Cost of stamps could rise from 70 cents to $1
THE price of a standard postage stamp could rise from 70 cents to $1 and mail will take longer to arrive.
Communications Minister Malcolm Turnbull is set to announce that Australia Post will introduce a two-speed mail service, which would take two to three days to deliver regular mail and charge a premium for next-day delivery, the ABC reported.
Mr Turnbull will also set out a plan for Australia Post to lodge an application with the Australian Competition and Consumer Commission to increase the price of a stamp from 70 cents to $1.
The ACCC could knock back the application.
A 60 cent stamp price will remain in place for pensioners and commonwealth concession card holders, and Christmas cards will still cost 65 cents to send.
Last week, the service announced a 56 per cent dive in its first half profits, with losses due to letters delivery doubling to more than $150 million.
On January 30, Australia Post announced changes to pricing, to come into effect yesterday, including:
- selected domestic Parcel Post and Express Post products and services
- selected business bulk mail letter products
- Mail Redirection & Mail Hold
- after hours transport collection
- selected packaging products
At the time, Australia Post said there would be "no price change to the basic domestic letter rate (70 cents)".