Fears that the Queen’s mug could be excised from Britain’s postage stamps, if the Royal Mail is flogged off to a foreign company, have been allayed by the government.

Buckingham Palace say they are “confident” that the Queen’s visage will continue to peer out from British envelopes, even though the privatisation Bill itself makes no such guarantee.

Business secretary Vince Cable is now investigating how the Royal “brand” can be protected from any republican owners decreeing “off with her head."

Government ministers had thus far believed that any such figurative beheading would be “commercial suicide” and have thus not vociferously pursued legislated protection.

To remove all doubt however talks have been initiated with the Palace to enshrine protection in law before the Bill completes its passage through parliament.