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Local taxpayers left short-changed in Royal Mail fire sale says Catherine West

Labour’s candidate for Hornsey & Wood Green today slammed Ministers’ botched privatisation of Royal Mail after a report published on Tuesday showed the sale had cost the public hundreds of millions of pounds.

Business Secretary Vince Cable was dragged to the House of Commons by Labour on Tuesday to face questions following the publication of the National Audit Office (NAO) report into the privatisation, which concluded that ministers “could have achieved better value for the taxpayer”.

Following the shocking announcement, Labour’s Catherine West said:

“People in Hornsey & Wood Green will rightly be asking what the Tories and Lib Dems were thinking of when they sold off the Royal Mail for such a price. And this week stamp prices have gone up again, following a hike of 30 per cent in the price of a first class stamp last year.

“As families across Hornsey & Wood Green struggle with a cost-of-living crisis, they will look at this botched privatisation and see yet another example of an out of touch Government that doesn’t understand communities in Haringey.”

Labour’s Shadow Business Secretary Chuka Umunna MP said:

“Taxpayers have been short changed by hundreds of millions of pounds as a result of the Tory-led government’s fire sale of Royal Mail.

“At the same time vital services and the historic link between Royal Mail and the local Post Office network have been put at risk.”

“Catherine West opposed the sale and people in Haringey will be greatly concerned that they’ve lost out.”

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