Royal Mail Sees Reduced Post on Price Rise, Daily Telegraph Says

The rising price of stamps will force “millions” of U.K. residents to stop using the postal service, the Daily Telegraph said, citing a Royal Mail memo sent to members of parliament.

The government-owned Royal Mail anticipates a drop of 15 percent in second-class letters and 12 percent in first-class mail when stamp prices rise on April 30, the newspaper reported. The increased price could “spectacularly backfire” and do “irrevocable damage” to the Royal Mail, Ian Murray, the shadow postal affairs minister, said in an interview with the paper.

To contact the reporter on this story: Namitha Jagadeesh in London at njagadeesh@bloomberg.net

To contact the editor responsible for this story: Dick Schumacher at dschumacher@bloomberg.net

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