Royal Mail: price rises are to 'secure the future' of our business

Raising prices is never easy. It is not a decision we have taken lightly but regretfully we have had no choice but to do so. We have thought very carefully about the impact on our customers and on our own business.

We need to secure the future of the universal service.

Ofcom (the postal regulator) has said there is a real risk to the universal service. They also found price controls failed and there is a need for material increases to ensure its viability.

Royal Mail has made a loss in its core mail business, including packets, of almost £1 billion over the last four financial years. That is not a sustainable position for any business.