Australia Post proposes to increase basic postage stamp prices to curb financial loss

Sydney Morning Herald11-22

Aussies could soon be paying more for a basic postage stamp as Australia Post has lodged plans to increase prices in an effort to offset any financial losses due to the dip in people sending letters....

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Credit: SuppliedGroup chief executive officer and managing director Paul Graham said the proposal was a way Australia Post offsetting significant ongoing losses in its letters business.&nbsp;“Australia Post continues to face structural challenges in its Letters business that are expected to only get worse,” Mr Graham said.“This proposed increase will primarily impact business and government customers and is necessary to offset growing losses in our letters business, as more people choose to communicate digitally.“We remain focused on continuing to deliver for all Australians, especially for communities in rural and regional Australia, but this is only possible if Australia Post is financially sustainable.”Camera IconAustralia Post has been losing money since more people are turning away from sending letters. NewsWire / Christian Gilles Credit: News Corp AustraliaThe change will not impact concession and seasonal greeting stamp prices, which will remain at 60 cents and 65 cents respectively.Australia Post reports that fewer than 3 per cent of letters are sent by individuals, with the vast majority mailed by businesses and government agencies.Letter mail is now at a level not seen since the 1950s, with Australia Post experiencing continued structural decline. Volumes dropped a further 12.9 per cent in the 2023-24 financial year, resulting in a $361.8m loss.Total letter volumes are expected to reduce further as digitisation increases.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2485403520"}