Commenting on the National Audit Office report into the sell off of Royal Mail, Mark Littlewood Director General at the Institute of Economic Affairs, said:
“The government was right to be cautious in the sale of Royal Mail. It is impossible to know the right price for something in the absence of a market. Had politicians taken too great a risk, the backlash had there been unsold shares would have been substantially greater.
“Whilst the Royal Mail sell off may not have been perfect, its benefits are huge. For too long our postal service has failed to innovate and modernise. This move to the private sector will see a service with better incentives and controls, providing a more successful and less wasteful postal service.
“And 700,000 private investors, including many postal workers, have made money at very little risk. That is by no means a failure.”
Notes to editors:
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