Postal workers yesterday slammed as “ridiculous” a City slicker panel hired to refine privatisation policies following the Royal Mail sell-off.

The Communication Workers Union (CWU) hit out after Lord Myners — last seen walking out of the Co-op in a huff after his proposals were rejected — identified the “heavyweights” brought in to look at a stock-market flotation that saw taxpayers miss out on £750 million in a day.

The government still holds 30 per cent of the historic business but defied massive public opposition to flog 60 per cent last October, when 16 “priority investor” firms got preferential treatment that guaranteed instant multimillion-pound profits.

Business Secretary Vince Cable announced the Myners review following huge criticism of the sell-off.

But CWU general secretary Billy Hayes said: “The main lesson learnt by everyone is that governments should not privatise well-regarded profitable public services.”