Commenting on Royal Mail’s hike in the price of stamps announced today,•Labour’s Shadow Minister for Trade and Investment Ian Murray MP•said:

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“Royal Mail is hiking up prices well above the rate of inflation yet again following hikes of over 30 per cent in stamp prices less than two years ago. Labour warned that the decision to privatise Royal Mail could result in significant price increases.

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“This will add insult to injury at a time when families are being hit by a cost-of-living crisis. Ministers have not only left taxpayers short changed to the tune of hundreds of millions of pounds in their botched fire sale, but now given they have country’s postal provider free rein to raise prices which will have an impact on vulnerable customers and small businesses who rely on using Royal Mail stamps.•

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“Consumers will question whether privatised Royal Mail has any interest in maintaining its vital letter delivery service in the future and this hike will clearly have an impact on affordability and access to services.•The next Labour government would safeguard services by ensuring an appropriate degree of price control, securing the universal service obligation beyond its current deadline and strengthening the link between the Post Office and Royal Mail.”

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Since 2009, prices have increased cumulatively -; first class up 59 per cent and second class up 77 per cent.

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