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07/12/2005
Price of first class stamps to increase
The prices of stamps are set to rise next year, following an agreement between Royal Mail and industry regulator Postcomm.
The deal will see the price of first-class stamps increase by 2p to 32p next year and second-class stamps will increase from 21p to 22p.
Royal Mail had wanted to raise prices to 39p for a first-class stamp and 27p for a second-class stamp, while Postcomm had wanted prices to be capped at 36p and 25p for first and second-class stamps, respectively.
The regulator said that the increase would provide Royal Mail with an extra £1.2 billion next year, which would help it to modernise its operations and contribute towards the £4 billion deficit in its pension fund.
However, Royal Mail’s chief executive Adam Crozier said: “No-one should regard today’s proposals as anything other than tough.”
The price rises are part of proposals put forward by Postcomm to secure the financing of Royal Mail ahead of the industry opening to full competition from next month.
Royal Mail is concerned that other rival firms will be able to ‘cherry pick’ the most profitable areas of postal delivery when full competition is introduced and it will be unable to compete.
However, industry watchdog Postwatch expressed concerns that customers would now have to pay in excess of inflation for their stamps.
(KMcA/SP)
The deal will see the price of first-class stamps increase by 2p to 32p next year and second-class stamps will increase from 21p to 22p.
Royal Mail had wanted to raise prices to 39p for a first-class stamp and 27p for a second-class stamp, while Postcomm had wanted prices to be capped at 36p and 25p for first and second-class stamps, respectively.
The regulator said that the increase would provide Royal Mail with an extra £1.2 billion next year, which would help it to modernise its operations and contribute towards the £4 billion deficit in its pension fund.
However, Royal Mail’s chief executive Adam Crozier said: “No-one should regard today’s proposals as anything other than tough.”
The price rises are part of proposals put forward by Postcomm to secure the financing of Royal Mail ahead of the industry opening to full competition from next month.
Royal Mail is concerned that other rival firms will be able to ‘cherry pick’ the most profitable areas of postal delivery when full competition is introduced and it will be unable to compete.
However, industry watchdog Postwatch expressed concerns that customers would now have to pay in excess of inflation for their stamps.
(KMcA/SP)
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Royal Mail has announced new pricing plans, which would allow it to price mail by size rather than weight. The state-owned operator claimed that the changes were needed, so that it could continue to provide a ‘one-price-goes-anywhere’ postal service and has called on UK postal regulator Postcomm to give the go-ahead for the new policy plan.
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Consignia request 1p increase for first and second class stamps
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Price rise for post to international destinations
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03 August 2001
Halifax report house price rises dip in July
Rampant house price rises at the start of the year have shown their first dip according to a new survey released by the Halifax. In July the average house price rise dropped off to 0.7 percent, which has been interpreted as the first sign that the early year rises of almost 11 per cent may be tailing off.
Halifax report house price rises dip in July
Rampant house price rises at the start of the year have shown their first dip according to a new survey released by the Halifax. In July the average house price rise dropped off to 0.7 percent, which has been interpreted as the first sign that the early year rises of almost 11 per cent may be tailing off.
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Northern Ireland WeatherToday:After a dry start this morning rain will spread from the northwest across all parts. This afternoon will be dull with some patchy rain and drizzle. Becoming much milder through the afternoon. Maximum temperature 11 °C.Tonight:A cloudy evening and night with a little light rain or drizzle, perhaps some clear periods developing along the east coast. A very mild night everywhere. Minimum temperature 10 °C.
