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MPs claim Royal Mail sell-off cost taxpayers £1 billion

Taxpayers have lost £1 billion over Royal Mail's privatisation because the Government underestimated demand for shares, MPs have reported.

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MP: Signs of high demand 'before Royal Mail sale'

There were indications before the sell-off of Royal Mail began of demand "really taking off", according to the chair of the business, innovation and skills select committee.

Labour's Adrian Bailey dismissed claims criticism of the sell-off was all in hindsight and told Good Morning Britain the Government failed to act on clear signs of high demand for shares.

"There were indications before the float that demand for these shares were really taking off. Institutional investors over-subscribed it by 24 times and retail investors...by seven times."

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