- Standard first class postage increases by 30p to £1.65 – an increase of 22.2%
- Fifth price increase in less than three years
- A rise in postal rates could lead to a ‘doom spiral of decline’ for Royal Mail
Businesses have warned that Royal Mail’s inflation-busting price rise for first-class stamps could ‘herald the end of an affordable postal service’.
Standard first class postage will rise by 30p from today to £1.65 – an increase of 22.2 per cent.
The fifth price rise in less than three years comes as Royal Mail’s owner International Distribution Service, led by CEO Martin Seidenberg, is bought by Daniel Kretinsky.
Worries: Royal Mail’s owner International Distribution Service, led by CEO Martin Seidenberg (pictured), is being bought by Daniel Kretinsky
Royal Mail also plans to restrict second class deliveries to every other weekday.
The rise in first class postal rates could lead to a ‘doom spiral of decline’ for Royal Mail, the Greeting Card Association (GCA) has warned, which fears a ‘premium, unlimited, unregulated first class stamp that is out of reach of (consumers) ‘.
DIY INVESTMENT PLATFORMS
A. J. Bell
A. J. Bell
Easy investing and ready-made portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free fund trading and investment ideas
interactive investor
interactive investor
Invest for a fixed amount from € 4.99 per month
Sax
Sax
Get £200 back in trading fees
Trade 212
Trade 212
Free trading and no account fees
Affiliate links: If you purchase a product, This is Money may earn a commission. These deals have been chosen by our editors because we believe they are worth highlighting. This does not affect our editorial independence.