The price of a first class stamp is to rise by 30 per cent to 60p.
There is a bigger picture to today's stamp price rises - creating a Royal Mail that is ripe for sell off.
So can you make a profit by selling stamps on after the price rise?
– Robert Hammond, Director of Postal Policy at Consumer Focus
‘With unprecedented price rises on the way, it is understandablethat consumers who rely on the postal service will be buying stamps before theincrease. We would expect Royal Mail to take steps to meet increaseddemand in the run up to the price change. There are 45,000 Post Offices andretail outlets which sell stamps and we have been assured by Royal Mail thatthere is a more than adequate supply of stamps in the market to meet increasedcustomer demand.
Robert Hammond, the head of postal policy at the consumer watchdog Consumer Focus, tells ITV News the Royal Mail has increased stamp prices to the limit that the public can stomach.
– Department for Business, Innovation and Skills Spokesperson
Price rises are never welcome.
However Ministers are clear that the top priority is to protect the universal service on which people rely.
Indeed we have enshrined – in law – the six day a week, one price goes anywhere service and given Ofcom as the regulator the duty of protecting that service.
But this service comes at a cost, and its provider, Royal Mail, needs to be financially viable.
The most important thing is to secure the universal service, but price rises are only one part of the story, the successful modernisation of Royal Mail is also crucial.
– Ian Murray, Labour Shadow Minister for Employment Relations, Consumer and Postal Affairs
An increase in the price of stamps will hit the elderly, vulnerable and millions of people who rely on the postal service, including small businesses and charities. At a time when family budgets are facing an unprecedented squeeze, the cost of living is rising and growth has been stalled...such a large rise in the price of stamps is the last thing we need. This decision is a direct result of the Government pursuing the privatisation of Royal Mail.
No increase in stamp prices is "particularly welcome", the Prime Minister's spokeswoman has said.
But she said the priority was to protect a universal postal service and the Royal Mail had to be financially viable.