Royal Mail Bids to Raise Cost of First-Class Stamp to 48p ; Regulator Blocks Plan for 60% Rise

Summary

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ROYAL Mail faced criticism today after trying to raise the price of stamps by 60 per cent to 48p.

The increase has been blocked by industry regulator Postcomm, which proposes a rise in the cost of a first-class stamp from 30p to 34p and second class from 21p to 23p.

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Royal Mail Bids to Raise Cost of First-Class Stamp to 48p ; Regulator Blocks Plan for 60% Rise

But Royal Mail vowed to fight the price caps, which would be brought in three months after the market is opened to rival firms, through the Competition Commission.

Chairman Allan Leighton said: "These...

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