Oral Answers to Questions

Ann McKechin Excerpts

Wednesday 4th December 2013 Commons Chamber

[The Deputy Prime Minister]

The EU share of world trade today I think is around 20%. I would merely say to my hon. Friend—in an equally friendly spirit to that in which I know the question was intended—that the Prime Minister has actually been advocating a new EU-China trade deal, precisely because the European Union remains, notwithstanding all the other changes in the world, a very powerful trading bloc on the world scene.

[Ann McKechin (Glasgow North) (Lab)]

Q12. Last week Goldman Sachs placed the value of Royal Mail shares at 610p each, but just two months ago it advised the Government that investors would walk away if they sold at over 330p. Does the Deputy Prime Minister believe that he has secured value for money for the taxpayer?

[The Deputy Prime Minister]

As my right hon. Friend the Secretary of State for Business, Innovation and Skills has explained, this is yet another example of our doing something that was ducked by the Labour Government. The price at which we set the sale was recommended to us independently, and was at the highest point of the range that we were provided with by independent advisers.