The Government pressed ahead with "an unnecessary and botched fire sale of Royal Mail," the shadow trade minister said.
Ian Murray said as a result of this, taxpayers "have been short changed by hundreds of millions of pounds while the Government's 'priority' City investors made a killing at the public's expense."
Mr Murray said: "The cross-party committee's damning report reinforces the significant criticisms which have already been made by the National Audit Office and others.
"David Cameron's Government still has serious questions to answer."
More top news
Investigators have released images of two more people they wish to speak to about the Hillsborough tragedy.
The number of reported anti-semitic incidents in the UK have increased by just over 50%, figures released by a charity have suggested.
Athletes competing at next years Summer Olympic Games in Rio de Janeiro will be using waters contaminated with human feces, a study finds.