Isle of Man Post Office (IOMPO) announces the price of a standard local and UK letter will rise to 62p with effect from 6th April 2020.
The 5p increase still represents excellent value for money and the Isle of Man will continue to be the cheapest ‘First Class’ letter rate in the United Kingdom and Channel Islands*
* Postage comparison table
|Postal Administration||2019/20 UK destined letter rate||2020/21 UK destined letter rate|
|Isle of Man Post Office||57p||62p|
|Royal Mail - 1st Class||70p||76p|
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.
The price updates are in-line with IOMPO’s five-year strategy and will enable the business to improve its financial position, offsetting increased operational costs, many of which are outside its control and declining postage volumes, which for 2020/21 is forecast at 8%. The pricing strategy is a key component of IOMPO’s planned return to profit.
Additionally, IOMPO has taken the opportunity to simplify its parcel service offering, and is pleased to continue to provide customers with value and premium service choices for posting parcels worldwide. Following the Universal Postal Union decision to change the way terminal dues fees are calculated with effect from 1st July 2020, further changes to IOMPO’s parcel services may be necessary. Information about any changes will be made available as soon as details are confirmed.
The headline price changes are as follows:
Julie Edge MHK, Chairman of Isle of Man Post Office, said: “We are committed to ensuring the quality and sustainability of our services to all our customers. However, with mail volumes continuing to decline and an increase in overall operational costs, price increases are regrettably inevitable. As we continue with our five year strategy to transform the business in the years to come, the new prices will help to achieve this and protect IOMPO’s proud self-funding status.”