Hard-up Australians are set to be hit of their pockets as soon as once more, with Australia Post proposing a whopping 25% improve to the value of stamps.
Under the proposed adjustments from January subsequent yr the price of customary stamps will leap from $1.20 to $1.50.
The value of concession stamps and seasonal greetings stamps is not going to go up.
Increasing the value of fundamental stamps is critical to make sure Australia Post stays financially viable, Group Chief Executive Officer and Managing Director Paul Graham mentioned.
“As we are entirely self-funded and receive no ongoing government funding, we need to ensure we reduce losses in our letters business,” Graham wrote in a press release.
The embattled firm not too long ago reported a $384.1 million loss in its Letters business within the 2023 Financial Year.
An Australia Post spokesperson tried to downplay the influence the adjustments would have on households.
“The average household sends around 15 letters a year and, if implemented, the proposed increase would cost about $4.50 extra a year,” a press release mentioned.
Australia Post lodged a draft proposal for the rise with the Australian Competitor and Consumer Commission on September 4.
“We would like to hear from consumers, businesses and other stakeholders about their views on Australia Post’s proposed price increase,” ACCC Commissioner Anna Brakey mentioned.
The ACCC can’t approve the prise rise however can lodge an objection to the rise, it confirmed in a press release.
Consultation on the proposed value improve is now open right here and closes on 29 September 2023.
The choice to simply accept the adjustments will in the end lie with the Minister for Commuications Michelle Rowland MP.
Source: www.perthnow.com.au
