Increase in Stamp Price in UK
In the latest move toward a privatization of Royal Mail now expected in early 2014, Britons will have to pay 30 percent more for a first-class stamp to help protect the country’s universal postal service. On Tuesday Royal Mail stated the price for a first class letter would rise to 60 pence from 46p on April 30, as it seeks to turn around its loss-making letters business. A second-class stamp for a standard letter will go up to 50p from 36p, below a 55p cap put in place by Ofcom. It is going very hard for business and households as prices are hiking in such tough economic phase.
According to the Communication Workers Union the price hikes were a natural progression towards full competition and privatization of postal services. The idea of stamp price rises comes directly from government decisions to privatize this industry. As per a survey done by polling company, the inflation expectations eased to 2.7 percent this month from 2.8 percent in February. Expectations for annual inflation over the next 5-10 years were stable at 3.4 percent.
Last Wednesday the news followed a decision by the European Commission to approve government plans to take on Royal Mail’s hefty pension fund in a bid to improve its safety for employees, and attract private sector investment. Britain had taken all of the big steps necessary to pave the way for outside capital interest. Ofcom gave Royal Mail new price-setting powers as part of a seven-year framework designed to protect the universal postal service amid declining volumes and sales. If you have cash crunch and you want to get out from it then you can apply for an fast loan, loaninminutes can gives you a loan approval within 15 minutes which also known as <a href="http://www.loaninminutes.co.uk/ 15 minute loans.
Royal Mail believed that the changes were vital to making the service, which costs 6.7 billion pounds per year to run, sustainable. Royal Mail made a 41 million pounds operating loss on letters and parcels in the six months to September 25. The service agreement ensures consumers get a universally-priced postal service six days a week. Ofcom stated that Royal Mail.
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Alex Rutherford is an expert financial advisor. He works with finance in UK financial market. He writes articles on Payday Loans and Fast Cash Loans.More Info Visit: – http://www.loaninminutes.co.uk/
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