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Labour candidate blasts Cable for role in botched Royal Mail sell-off

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Nick Grant, the Labour Party’s Parliamentary Candidate for Twickenham, has slammed Vince Cable for his role in selling off Royal Mail as this week marks the first anniversary of the botched privatisation.

As business secretary, Twickenham’s Lib Dem MP Cable presided over the disastrous sale, which cost the taxpayer a massive £750 million on the first day that Royal Mail shares were traded, while a small number of banking advisers made tens of millions in profit.

Commenting on the first anniversary of Royal Mail’s privatisation, Nick highlighted how the huge waste of public funds has coincided with a crisis in the cost of living for many ordinary families, with incomes lagging behind prices, London rents rising dramatically and cuts to many essential public services.

Nick said: "This week sees the anniversary of the shameful waste of taxpayers’ money that was the Royal Mail sale. Once again the few benefited from coalition government policy. The Lib Dems will say that they have restrained the Tories - they haven't. 

“In the Royal Mail sale everyone can see the active, enthusiastic part Vince Cable and the Liberal Democrat party played in carrying out Conservative policy. 

“This isn't what the people of Twickenham voted for in 2010. It's time for a fresh start in 2015."

 

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