Labour slams 'botched privatisation' of Royal Mail

Labour has accused the Government of a "botched privatisation" over its sale of Royal Mail, claiming taxpayers have been short-changed by hundreds of millions of pounds.

When the sell off took place in October, Business Secretary Vince Cable said the move should not be judged until at least three months' time.

Tomorrow marks three months to the day that Royal Mail shares went on sale - and they will open 70% higher than their original £3.30 price.

ITV News Deputy Political Editor Chris Ship reports:

Labour said the share price has remained above £5, "dramatically" higher than the figure set by the coalition

Labour's business spokesman Chuka Umunna said: