Royal Mail asks to hike prices

first_img Share whatsapp Royal Mail has asked the postal regulator for permission to hike prices on business mail products for one year only, in order to generate extra revenue of up to £100m. Royal Mail chief executive Moya Greene said the firm was asking for the chance “to charge a fair price to other companies who use our network to carry mail and to end what is, in effect, the very substantial built-in subsidy which our rivals have enjoyed for years”. The firm made a £157m operating loss last year on “access mail”, collected by rivals but delivered by Royal Mail, amounting to an average loss of 2.5p per item. Read This NextThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap whatsapp KCS-content Show Comments ▼center_img Monday 18 October 2010 7:39 pm Royal Mail asks to hike prices Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndo Tags: NULLlast_img read more

Pain must always come before gain

first_img Share KCS-content Thursday 27 January 2011 9:16 pm whatsapp CREDIT rating agencies have come in for a lot of flak, not least in this newspaper, but yesterday they proved that they can still tell the Emperor it has no clothes. The downgrade of Japan’s credit came as a stark reminder that government debt will be the new sub-prime. It certainly ought to serve as a wake-up call to any politician stupid enough to believe that a country can keep on adding to its national debt without any consequences. Standard & Poor’s, the agency that rightly downgraded Japan for the first time in nine years, blamed a lack of a “coherent strategy” to reform the economy and tackle its liabilities. Quite right – Japan’s decades-long inability to sort itself out is a depressing reminder that even great economic superpowers can go into permanent relative decline if they make the wrong choices. This issue, while fundamental, is never sufficiently reflected upon; the modern political cycle is far too short-termist and parochial for that.Fortunately, the UK is not Japan. Britain is gradually beginning to turn a corner with its budget deficit, even though the national debt is still growing at a sickening rate. The deficit has so far reached £118.4bn in the financial year to date, down £8.4bn from £126.8bn recorded in the same period a year ago. The final, full fiscal year shortfall may end up slightly under the Office for Budget Responsibility’s £148.5bn forecast. But what is starting to rattle some in the gilts markets, however, is the collapsing support for the coalition – Labour is 6 points ahead at 44 per cent in this morning’s YouGov/Sun opinion poll, while the LibDems are languishing at a disastrous 8 per cent. Elevated inflation levels are also putting upwards pressure on gilt yields. Yesterday’s poor consumer confidence figures aren’t helping sentiment towards UK assets either. There is a real risk that the four-year austerity programme mapped out by the coalition will never see the light of day. Labour’s policies are now the most left-wing they have been since the 1980s – though a Prime Minister Ed Miliband would eventually be forced to push through much of the same tightening as the coalition is planning, the rise in Labour’s political fortunes is beginning to make some large global funds nervous. All of this will push up the cost of borrowing for the government and the private sector.Huge reforms – tax, regulatory, spending, welfare, health, education, energy and transport – are needed if Britain is to be brought back to health and become competitive once again. Yet countries are not doomed to decline. One of the greatest structural recovery stories of the past few years is that of Germany. Hermes Fund Managers calculates that since the birth of the euro, unit labour costs in the Eurozone have risen 20 per cent relative to its trading partners. But Germany, almost uniquely, has bucked this trend: it has cut its relative costs by 2 per cent, while Spain and Italy allowed theirs to surge 25 and 34 per cent. This is the main reason why Germany enjoyed a veritable economic boom in 2010. The country’s post-war growth miracle slowed in the late 1970s and the 1980s, before grinding to a halt after reunification in 1989. Its return to success represents a remarkable turnaround. If Germany can do it, so can the UK – and even Japan. But it can’t be done without strong and determined political leadership – and a public that accepts that pain must come before gain. [email protected] me on Twitter: @allisterheath Pain must always come before gain center_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsSenior Living | Search AdsNew Senior Apartments Coming Nearby Scottsdale (Take a Look at The Prices)Senior Living | Search Ads whatsapp Show Comments ▼ More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com Tags: NULLlast_img read more