Royal Mail Debate

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Kevin Brennan

Main Page: Kevin Brennan (Labour - Cardiff West)
Tuesday 1st April 2014

(10 years, 7 months ago)

Commons Chamber
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Vince Cable Portrait Vince Cable
- Hansard - - - Excerpts

That is an option we wish to keep open and we have no immediate plans to dispose of it.

Kevin Brennan Portrait Kevin Brennan (Cardiff West) (Lab)
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Seventy per cent. of the issue was reserved for financial institutions, including hedge funds. This morning on the “Today” programme, the Minister of State, Department for Business, Innovation and Skills (Michael Fallon) repeatedly said, “We got it away”. Would it have been more accurate for him to say, “We gave it away to our hedge fund friends who have given £38 million to the Conservative party”?

Vince Cable Portrait Vince Cable
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That series of connections does not appear very logical. The only significant hedge fund at the time of the offering was TCI, which has since sold most of its shares.