Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, pursuant to the Answer of 29 November to Question 92302 on Postal Services: Fees and Charges, what assessment he has made of the (a) 46 per cent price increase of 1st class letter stamps since 2017; and (b) affordability of these services.

As set out previously, the Government does not have a role in Royal Mail’s commercial decisions which includes the price Royal Mail sets for First Class letters. The Government is, however, committed to ensuring that the universal postal service remains affordable and accessible to all users. Ofcom sets the regulatory framework for stamp prices and whilst it does not currently regulate the price of First Class stamps, Ofcom does require that they, alongside all universal postal services, are affordable. Ofcom will be reviewing the appropriate scope and level of the safeguard caps with a statement and consultation in 2023-24.