Royal Mail’s Postage Stamp Price Rises

That the Parliament expresses its concern that the cost of postage stamps and delivery services will increase from 2 October 2023; notes that the price of a first class stamp will rise from £1.10 to £1.25, which is a 14% increase, with large first class postage charges increasing from £1.60 to £1.95, which is a 22% increase, and 47% more than in March 2022, and with large second class charges rising from £1.15 to £1.55, a 35% increase; is aware that, in 2002, first class stamps cost 27p and second class cost 19p; understands that, whilst cumulative UK inflation has been 108% since then, first class stamps have risen in price by 363%, and second class by 295% over the same period; further understands that, in 2004-05, Royal Mail handled 20 billion letters a year, however, by 2022-23, the figure had fallen to 7 billion; believes that technological and cultural change has contributed to this, but considers that Royal Mail appears to have deliberately tried to price itself out of, and reduce, its own market; further believes that the postal service is still a vital one, and calls on Royal Mail to reconsider what it sees as the self-inflicted damage that it will do to its customers, and its own business, by what it believes are self-defeating price rises.