– 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.
The price of a first class stamp is to increase from 46p to 60p - an increase of 30%. Second class stamps will go up from 36p to 50p - a 38% rise. The changes come into force from April 30.