This article was last updated on April 16, 2022
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The Labour leader Ed Miliband has branded the Prime Minister David Cameron the “Dunce of Downing Street” as the leaders clashed over Royal Mail shares during Prime Minister Questions on Wednesday.
Mr Miliband has accused Mr Cameron over selling off the majority of the company’s shares at “mates’ rates” for £1.4 billion less than its current valuation to a handful of rich London investors saying he had gone as “red as a post box”.
Mr Cameron responded to the claims by saying he would not take financial advice from the “two muppets opposite” – referring to Mr Miliband and Shadow Chancellor Ed Balls.
Mr Miliband has challenged Mr Cameron in the weekly clash at PMQs to name today’s share price, compared with the initial sale offering of 330p, as he has said: “You sold at 330p and this morning the price was 563p.
“It is basic maths – not so much the wolf of Wall Street, more the dunce of Downing Street.”
The Prime minister has replied: “I will take a lecture from almost anyone in the country about the sale of Royal Mail, but not from the two muppets who advised the last chancellor on selling the gold. There they sit, not a word of apology for £9 billion wasted.”
However, the Prime minister has failed to answer to the Labour leader’s allegation that a small group of City investors had broken a “gentleman’s agreement” with the Government and sold off shares they had purchased as soon as their value rose.
The heated debate between the two leaders caused laughs in the House of Commons and termed as the most active PMQs for many months by Pundits.
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