Royal Mail plans to increase price of stamps

Royal Mail have announced plans to increase the price of stamps by April 2012.

The potential increase to the price of stamps is due to the new postal regulator, Ofcom, suggesting that Royal Mail should be able to set the price of first class stamps, which could begin as early as April 2012.

The price of second class stamps will still be regulated by Ofcom.

Adrian Bailey, Chairman of the committee, recently told BBC Radio 4's Today programme:

"We will be questioning whether a potential 53% increase in the second class stamp and an uncapped increase in the first class stamp will have anything other than a disastrous impact on traffic. The people who will be hit will be the elderly, the vulnerable, and those on low incomes, but also small businesses as well."

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