Question

To ask the Secretary of State for Business, Innovation and Skills, whether he has a target valuation for the sale of the Government's holding in Royal Mail.

Our intention is to sell the Government’s remaining stake in Royal Mail during this Parliament. As set out in the Secretary of State’s report to Parliament laid under section 2(2) of the Postal Services Act 2011 on 8 June, the sale of shares will be subject to market conditions and sensitivities and the Government will retain flexibility over the number of shares that are sold at any given time and the exact timing and structure of each sale.

One of the primary objectives of the sale will be a financial outcome that represents overall value for money.