Lord Campbell-Savours
Main Page: Lord Campbell-Savours (Labour - Life peer)Department Debates - View all Lord Campbell-Savours's debates with the Leader of the House
(9 years, 1 month ago)
Lords ChamberMy noble friend has put it like that; I was trying to be a bit more conciliatory.
My Lords, both opposition parties have already asked a question, but the Labour Party fielded its Front Bench first, so, arguably, it should be the noble Lord, Lord Campbell-Savours.
My Lords, is the driver behind this policy the prospect of the price of the shares falling?
That is not the prospect. Since the policy was announced, the shares have actually gone up. The independent advice we received from Rothschild said that giving a strong signal that it was ready for sale would help the share price. By letting some shares go now, the free float would increase and the benefit to the taxpayer would be increased. The Governor of the Bank of England concurred.