Huw Irranca-Davies
Main Page: Huw Irranca-Davies (Labour - Ogmore)Urgent 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.
This information is provided by Parallel Parliament and does not comprise part of the offical record
Vince Cable
Yes, and I think that 140,000 employees now have shares valued at about £4,000 each. More important than the face value of the shares is the fact that employees have a direct and personal stake in the success of the company. That is why we did it.
Huw Irranca-Davies (Ogmore) (Lab)
Royal Mail has something like 2,000 properties in high-value areas of real estate round the country. It was valued at approximately £1 billion, when one of those sites in London is itself equal to £1 billion in real value. How come it was sold off so cheaply to the detriment of taxpayers and my constituents?
Vince Cable
I do not think the hon. Gentleman was listening to one of my earlier replies in which I made it clear that an independent valuation of those sites confirmed the authenticity of what was proposed. It was in the prospectus, and nobody has subsequently challenged that.