A pricing error by Royal Mail will see up to £60,000 go to its charity partner Action for Children.
Last week, Royal Mail announced increases in the prices of First and Second Class stamps from 25 March. These will see the price of a First Class stamp rise by 3p to 70p and the price of a Second Class stamp by 3p to 61p.
However, the rise in Second Class stamp prices breaches Ofcom’s current price cap of 60p, which will remain in place until 1 April. The cap will then rise to 65p, and then in line with the annual CPI rate of inflation until April 2024.
Royal Mail has said the price changes are necessary to ‘help ensure the sustainability of the Universal Postal Service’ but said the error was inadvertent and apologised once it realised it had gone above the price cap. It has announced that it will donate the extra money this error brings in – expected to be around £60,000 – to Action for Children.
Action for Children has been Royal Mail’s charity partner since 2017.
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