Deputy Prime Minister Nick Clegg says the Government got value for money from its sale of Royal Mail.
Speaking at Prime Minister’s Questions today while Prime Minister David Cameron was on a trade mission in China, Clegg said he is taking a long-term view.
The Royal Mail was privatised last month at 330p but its price have rocketed 75 per cent to more than 580p today.
Business secretary Vince Cable, who had ministerial responsibility for the sale, has described the increase as “froth”.
Business, Innovation and Skills select committee chair Adrian Bailey has criticised the Government’s pricing of the sale.
Clegg was today asked by an MP whether the Government had secured “value for money” with its privatisation.
He said: “Our judgment is yes. It would be easy to make a call according to the price of the market on any given day.
“However, as on so many issues, we are determined to take a long-term view and not score short-term political points.”