If you have read the newspapers today, you may have seen that from the end of April the price of First and Second class stamps are due to rise.
Royal Mail have announced that following Ofcom’s decision today about a new regulatory framework, the price of a First Class stamp for a standard letter will rise from 46p to 60p.
The price of a Second Class stamp for a standard letter will increase from 36p to 50p.
Freedom to set own prices
The new regulatory framework will enable Royal Mail to have the freedom to set its own prices for the majority of its products including First Class stamps and most business mail. However, over the next seven years, Second Class stamps can be priced no higher than 55p.
Royal Mail say it has made a loss on its core mails, including packets, of almost £1 billion in the last four financial years.
Geoff Braden, Regional Operations Director for Royal Mail in the South West, said, “We know how hard it is for households and businesses when our economy is as tough as it is now. No-one likes to raise prices in the current economic climate but, regretfully, we have no option.”
Christmas scheme for low income households
For those on low incomes thinking ahead to Christmas, Royal Mail will be introducing a new scheme to help those with low income households.
Launching on 6 November, the scheme will allow you to buy up to 36 stamps, in one purchase, at 2011 prices.
If you are on pension credit, employment and support allowance (or incapacity benefit) you should be eligible for the Christmas scheme.
