Australia Post proposes stamp price increase

Australia Post has lodged a draft notification with the Australian Competition and Consumer Commission (ACCC) seeking an increase in the Basic Postage Rate (BPR) from $1 to $1.10 to apply from January 2020, the first increase in four years.

This proposed increase, along with efficiency savings across the operational network, reflects a balanced approach to ensuring a sustainable community post service, says Australia Post.

In an announcement Australia Post claims the rise will help keep Post Offices open – including Australia Post’s vital regional and rural network and keep posties delivering five days a week.

Group Chief Executive Officer and Managing Director Christine Holgate said importantly the 60 cent price of concession stamps would be protected and available to 5.7 million Australians, including pensioners and veterans, and the 65 cent seasonal greeting card stamps will stay the same.

“In the last financial year, we delivered a profit in-line with that three years earlier. We did this with 820 million less letters delivered to over 700,000 more homes,” Christine said.

“Our posties deliver to more than 12.1 million addresses across the country. It doesn’t matter if they have one letter or 100 for the address, they still need to drive past the letterbox each day.

“Last year our letters business lost $190 million – this is after the benefit of significant efficiency savings. It is important that we responsibly address pricing if we are to protect this important service and keep our network of community post offices open.”