Chancellor announces Royal Mail remainder to be sold off

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GEORGE OSBORNE, UK Chancellor of the Exchequer, has announced that the government will be selling off its remaining 30 per cent stake in Royal Mail.
The shares, which are currently valued at £1.5 billion (just over €2 billion), will be sold off when the government is sure it can get value for its money, and the resulting funds would be used to help reduce the deficit, the Chancellor said.
The Labour party meanwhile accused Osborne of ‘ripping up’ the long-term financial plan after his announcement surprised MPs.


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