I WONDER how many readers agree with the Business Secretary, Vince Cable, when he says:

"I admire the restraint the Royal Mail board has shown" ("Pay of Royal Mail chief stays at £1.2m", The Herald, May 7). It awarded Ms Moya Greene, chief exec­u­tive, only £1.22m as pay and benefits (up from £1.1m the previous year).

It is a further measure of City and Westminster thinking that the Royal Mail chairman thought Ms Greene's pay inadequate in view of her handling of the stock flotation. Readers will remember that as a trans­action in which a public asset was sold cheaply to provide short-term gains for financial traders, while employee shareholders were for­bidden to trade their shares for three years.

Martin Axford,

18 Bonar Crescent, Bridge of Weir.