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."
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Former Girls Aloud singer Kimberley Walsh is pregnant with her second child, she has revealed.
Chancellor George Osborne will seek to reassure financial markets on Monday morning following Britain's decision to leave the EU.
In his first outing since the referendum result, the lead Leave campaigner has outlined his vision for a post-Brexit Britain.