Lord Hanson of Flint
Main Page: Lord Hanson of Flint (Labour - Life peer)Royal Mail
Lord Hanson of Flint ExcerptsUrgent Questions are proposed each morning by backbench MPs, and up to two may be selected each day by the Speaker. Chosen Urgent Questions are announced 30 minutes before Parliament sits each day.
Each Urgent Question requires a Government Minister to give a response on the debate topic.
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Vince Cable
Yes indeed, and as I pointed out there were some extremely embarrassing episodes of asset sales under the previous Government and we have learned from their experience.
Mr David Hanson (Delyn) (Lab)
Given that the Secretary of State has confirmed that fewer than 700,000 people now own shares in Royal Mail, at a vastly inflated price, does he at least understand why the other 69 million of us in Britain feel a bit ripped off?
Vince Cable
Many of the other 69 million have policies with the leading pension funds and insurance companies, which were the long-term institutional investors in which these companies are now invested, so there is actually a much wider benefit. We have repeatedly made the point that had the flotation failed, the rest of the population would have been up for the losses.