The cost of stamps could go on to way up sharply, after Royal Mail was since the liberty to set the cost of its first-class stamps.
The postal service voiced that the cost of a first-class stamp will way up from 46 pence to 60 pence next month. Second-class stamps will way up from 36 pence to 50 pence.
The rises follow the preference by Ofcom, the postal regulator, to eliminate the hat on what Royal Mail can assign for first-class stamps. The cost of second-class stamps will still be regulated.
Ofcom mentioned that Royal Mail has been since the power to set its own first-class stamp prices to make it more blurb and"safeguard" the concept postal service.
Moya Greene, the arch senior manager of Royal Mail, mentioned she would have "avoided" raising prices if she could have. However she mentioned that the postal! service in the UK has been in "peril" for a number of years.
Interactive chart: First (OTC BB: FSTC.OB - headlines ) -class and second-class stamp prices in the UK
Interactive chart: First-class and second-class stamp prices in the UK
She (SNP: ^SHEY - headlines ) refused to think on any future cost rises.
Asked if 1 was as well ample for a first-class stamp, she said: "I am not going to say what is or what is not as well much. Circumstances change. we do not must be assign 1 now."
She adde: "If you look at the cost of a singular outing on a bus, or a chocolate bar, or the cost of a journal we are evidently affordable."
She updated that there is not an "affordability issue" with stamps because the median domicile spends 50 pence a week on stamps. This compares with 10.50 on telecoms and internet, she said.
The pierce to giveaway Royal Mail to set its prices is approaching to lead to the privatisation of Royal Mail. Mr Greene mentioned that it could be sole by the Government by the second entertain of 2014.
"I do not think it counts who owns the Royal Mail, either it is Her Majesty's Government or a organisation of allowance supports or sell investors. The thing is this. We can't be successful if the stamps are labelled as well low, we do not have access to capital, we are change piece insolvent, or the revenues are capped so we are not able to to compete. We have feel safe the future of the service," mentioned Ms Greene.
Customers! have be en strike by high cost rises before. In 1940 there was a 66 per cent increase. In 1975, the first-class and second-class stamps rose by 55 per cent and 58 per cent respectively.