Isle of Man Post Office (IOMPO) announces the price of a standard local and UK letter will rise to 52p with effect from 3rd April 2018. The 5p increase still represents excellent value for money and the Isle of Man will continue to be the cheapest postal provider in the British Isles* and offer one of the lowest postage rates across Europe for a first class service.
* Postage comparison table
|
Postal Administration |
2018/19 UK destined letter rate |
|
Isle of Man Post Office |
52p |
|
Royal Mail – 1st Class |
67p |
|
Jersey Post |
65p |
|
Guernsey Post |
62p |
IOMPO is pleased to continue to offer family and friends a free postage service to any British Forces Post Office address when sending standard letters and packets of up to 2kg.
IOMPO has recently presented its high level five year strategy to the Council of Ministers and the Department for Enterprise, the business's sponsoring department. The strategy is required to sustain the business in the long term as a modern, self-funding Post Office fit for the future. Last year IOMPO contributed £16.6m to the Manx economy. In order for the business to be able to continue to do this, it must deliver the objectives of the strategy.
The price increase is part of the broader strategy that includes increasing revenues from commercial activities and implementing efficiencies to reduce costs and offset declining letter postage volumes (approximately 7% year on year decline), thus enabling the business to continue to provide self-funded timely mail delivery and post office services around the Island.
Julie Edge MHK, Chairman of Isle of Man Post Office, said: 'We have considered these price increases carefully but with mail volumes continuing to decline and the impact of an increase in overall costs, rises are inevitable. We are very proud of the services we provide to up to 40,000 addresses a day. It is essential that the Post Office remains self-funding and does not look to Government for a subsidy. Our five year strategic business case is vital to the business's future in continuing to be an employer of choice and protecting local jobs, service and our proud self-funding status and the new prices will help to achieve this.'
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