John Prescott on why Vince Cable’s sell-off of Royal Mail

[TrueBlueTerrier]

John Prescott on why Vince Cable’s sell-off of Royal Mail will go down as the biggest public rip-off since the British Gas privatisation in 1986

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Experts warned that Royal Mail was massively undervalued at £3.30 a share, with £23billion of investment chasing £2billion of shares

Congratulations if you are one of the people who paid £750 to buy something you already owned.

Vince Cable’s sell-off of Royal Mail will go down as the biggest public rip-off since the British Gas privatisation in 1986 – and we’re still paying for that today!

Experts warned that Royal Mail was massively undervalued at £3.30 a share, with £23billion of investment chasing £2billion of shares. And they were right! The price rose by 38 per cent and 10million shares were sold on within 30 seconds. So much for Vince’s long-term ­investors.

It’s yet another example of selling our family silver, not to reduce the public debt or help small investors, but to give speculators a quick buck and raise a few billion to no doubt give away in pre-election Tory bribes.

In 1986 millions were spent on ads to “Tell Sid” about buying British Gas shares. Before Friday, we owned the Royal Mail. Now the Kuwaiti royal family reportedly has a £50million stake! Someone needs to “Tell Vince” this sell-off has turned into a right royal mess.

My first class honours

This week I had the honour on board HMS Wellington of helping to launch the new Royal Mail stamps ­commemorating 200 years of British shipping.

Admirals, masters, servants and even waiters like me and my colleagues from the old Cunard liner the Britannic swapped yarns about the Merchant Navy.

In my speech I congratulated Royal Mail on a fine selection of sailing ships.

I pointed out that less than 10 years ago the British merchant fleet was less than 2million tons and is now more than 17million, thanks to the tonnage tax I ­introduced to encourage shipping companies to register back in the UK.

We introduced an annual Merchant Navy Day and involved ‘Merch’ personnel in Remembrance Day.

However I failed to convince my government and its officer class that men who served on the Arctic convoys should be given a special medal for their ­contribution.

So – whisper this – the Coalition should be thanked for doing what Labour couldn’t.

[Red Robbo]

Not an MP anymore but still getting free drinks, his opinions should be kept to himself, after all his government would have flogged Royal Mail if they were still in power.

[Lounge Lizard]

"still getting free drinks" - yes, but he did work for Cunard.
( The old jokes are the best. )

[Glenno]

John Prescott on why Vince Cable’s sell-off of Royal Mail will go down as the biggest public rip-off since the British Gas privatisation in 1986
This twat was a sponsered MP thru the N U S, and he did diddly squat for those members, I remember you John P&O 1987 .......