POLL: Do you think the Royal Mail should be renationalised?

The price of first class stamps has increased for the second time this year and many have said the Royal Mail should be handed back to the government

The Royal Mail has bumped the price of first-class stamps by a staggering 14 percent over increasing cost pressures – and we want to know what YOU think.

This means sending a standard-size letter by premium post has climbed from £1.10 to £1.25, while a first-class stamp for large letters has soared from £1.60 to £1.95. Purchasing a second-class stamp for large letters has also been pushed back from £1.15 to £1.55.

It marks the second time first-class stamps have increased this year, with the labels rising from 95p to £1.10 on April 3. While second-class stamps for standard letters have remained at their original price of 75p, the full list of price changes have been detailed online. Royal Mail bosses have blamed the price hike on soaring costs and universal service obligation, meaning letters are delivered to UK households six days a week.

Nick Landon, chief commercial officer at Royal Mail said: “We understand the economic challenges that many of our customers are currently facing and have considered the price changes very carefully in light of the significant decline in letter volumes. Letter volumes have reduced dramatically over recent years, down more than 60% from their peak in 2004/5 and 30% since the pandemic. It is vital that the Universal Service adapts to reflect this new reality.”

According to research by We Own It, 68 percent of Brits want the Royal Mail in public ownership. It claims that £171 million would be saved every year if the service was in public ownership, which is enough to open 342 new Crown Post Offices with post banks. It writes: “This universal service is at risk as long as it’s in private hands. Long term pressure from shareholders wanting to make more for their investments is seeing delivery offices, routes and capacity cut, resulting in huge backlogs and delays. At the same time, stamp prices are hiked up year on year.

“Our postal workers deserve dignity in their working conditions and a fair wage. With Royal Mail run for the profit of a few, ‘efficiency’ savings have been introduced to maximise profit – and its posties and the public paying the price.” Do you think the Royal Mail should be renationalised? Vote in our poll HERE to have your say.

The Mirror will also be discussing the topic with you in the comments section below and you can join in! All you have to do is sign up, submit your comment, register your details and then you can take part.