MPs to quiz
Cable over
Royal Mail

The controversial privatisation of Royal Mail will come under the spotlight again this week with a series of hearings by MPs and renewed questioning of the Business Secretary.

Vince Cable has been recalled by the Business Select Committee tomorrow to give further evidence on the sell-off amid continued criticism of the Government for selling shares too cheaply.

Sign up to our daily newsletter

Shares shot up in value shortly after trading began last October, while the National Audit Office discovered that a number of so-called preferred investors have already sold all or some of their stock.

Opponents of privatisation have argued that investors have pocketed hundreds of millions of pounds in profit which should have gone to the taxpayer.

The business committee will also question business Minister Michael Fallon, while the Public Accounts Committee will hold two sessions on the subject – questioning the Financial Conduct Authority and bankers.