Royal Mail
Debate between Jacob Rees-Mogg and Vince CableUrgent 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
The National Audit Office assessment is the exact opposite and it accepts a valuation of Royal Mail under continued public ownership as being considerably less than the value that has been realised.
Jacob Rees-Mogg (North East Somerset) (Con)
Does my right hon. Friend agree that almost all initial public offerings are put forward at a discount—indeed, at a larger discount than secondary public offerings because there is no market in the shares until the offering has been made? Does he also agree that because of the large supply that comes on at the point of an IPO the discount has to be considerable, and that the stock price having done so well is a sign of enormous confidence in the economic policies of Her Majesty’s Government?
Vince Cable
My hon. Friend has given me a wholly new argument to deploy, and I will do so in future.
Oral Answers to Questions
Debate between Jacob Rees-Mogg and Vince Cable(12 years, 9 months ago)
Commons ChamberRead Full debate Read Hansard Text
Jacob Rees-Mogg (North East Somerset) (Con)
Does my right hon. Friend agree that countries with flexible labour laws have the best growth and those with inflexible labour laws have the highest unemployment; that the more we can do to ease employment by reducing regulation the better; and that this should be done as a matter of urgency, especially in the context of Europe?
Vince Cable
My hon. Friend’s basic premise is correct. I am sure that he has read the recent report by the Organisation for Economic Co-operation and Development, which said that Britain has the second most flexible labour market in the OECD, and that is what we want to retain.