SIR – According to the Government spending watchdog the National Audit Office, the sale of Royal Mail was a disaster for taxpayers.
In a scathing NAO report, they say the shares were sold at a knock-down price which cost us £750 million in one day.
Government advisers were paid £1.5 million for their advice and the Treasury spent another £11.2 million in fees to other banks including UBS, Goldman Sachs, Barclays and Merril Lynch, accountants, lawyers and PR advisers.
Shares peaked at 618 pence in January and yesterday, March 31, were valued at 563 pence, 70 per cent higher than the float price.
This fiasco is a perfect example of a millionaire Government looking after its own class while purposely making poor people poorer.
Alan Holdsworth, Sandside Close, Bradford
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