Cameron and Miliband on Royal Mail shares and sell-off

Ed Miliband claimed the Royal Mail sell-off was a "rip-off of the tax payer" and that the prime minister had lost the country £1bn.

But David Cameron said it was a "success for our country" and Labour had failed in its bid to privatise the service, as the pair clashed over the distribution of shares for staff and buyers, and when these could be sold off.

The prime minister named Michael Foot and Neil Kinnock's opposition to previous privatisations and accused the Labour leader of "playing to the gallery".