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Osborne Insists: Royal Mail Sell-Off A Success

Friday 11th July 2014

The Chancellor has insisted to LBC the government did secure a fair deal in the sale of Royal Mail.

The Business Select Committee of MPs has accused ministers of under-estimating the demand for shares and losing taxpayers £1billion.

But speaking to LBC, George Osborne has defended the sell-off. He told Iain Dale: "Governments in the past have tried to bring new money into it, tried to invest in it.

"That hasn't worked. They have failed, but this government has succeeded.

"We have brought new money into the Royal Mail. We've also helped its workforce own part of the company.

"And we've raised £2bn for the Royal Mail. So I think that is a win all round."