MPs challenge proposed rise in stamp prices

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Proposals being made by regulator body Ofcom to remove the price cap on the cost of first-class stamps plus increase the cost of second class mail up to 55 pence has come into opposition from MPs who have challenged the move saying that they were concerned how these changes might effect the vulnerable and small businesses.

Formerly regulated by Postcomm the postal service is now watched over by Ofcom who said that the industry is going through “huge changes” and the new proposals had been made in light of these factors.

The advancement of new technology has meant that fewer people are now using the postal service and Ofcom said that less than 50p per week was now being spent on mail services by the average UK family.

With this advancing decline in the use of postal services Ofcom said that the proposals that had been announced in October had been designed to ensure that UK consumers would continue to have the benefits of an affordable universally priced postal service that was available for six days of the week.

The new proposals would allow the Royal Mail to set a price on the stamps cost that would allow it to be both competitive and appropriate.