Royal Mail fined £10.5million for missing its post delivery targets again
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ROYAL MAIL has been fined £10.5million for missing its post delivery targets again. Regulator Ofcom said just 74.7 per cent of first class post was delivered on time in the past year — well short of the 93 per cent target. Second class post was delivered 92.7 per cent on time — but still adrift of its 98.5 per cent objective.
![[Royal Mail has been fined £10.5million for missing its post delivery targets again. pictured Czech billionaire Daniel Kretinsky, who is set to purchase the service]](https://www.thesun.co.uk/wp-content/uploads/2024/12/czech-businessman-daniel-kretinsky-poses-692746097.jpg?strip=all&w=960)
Ian Strawhorne, from Ofcom, said: “With millions of letters arriving late, far too many people aren’t getting what they pay for when they buy a stamp. Royal Mail’s poor service is now eroding public trust in one of the UK’s oldest institutions.
![[Shaun Pulfrey, inventor of the Tangle Teezer hairbrush, which was valued at £165million in a sale to biro maker Bic]](https://www.thesun.co.uk/wp-content/uploads/2024/12/fd091ee1-9249-43c4-a2cd-a58dafb8372b.jpg?strip=all&w=916)
“This is the second time we’ve fined the company since the pandemic.”. Last year Royal Mail was fined £5.6million for missing targets. Tom MacInnes, from Citizens Advice, said: “Failing to hit a single delivery target for nearly five years is simply unacceptable by Royal Mail, and it’s consumers left facing the consequences.”.
![[Andy Bond, chairman of Poundland owner Pepco, which took a hefty writedown on the toiling retailer’s value]](https://www.thesun.co.uk/wp-content/uploads/2024/12/f9a4475f-8f79-4dc0-a399-3480e4942bdb.jpg?strip=all&w=755)
The underperformance comes despite Royal Mail increasing the price of first class stamps by 30p to £1.65 while second class stamps are still 85p. Royal Mail is pushing the Government to reform its universal service obligations and drop second class deliveries to every other day.
Czech billionaire Daniel Kretinsky is nearing government approval for his £3.6billion purchase of Royal Mail. He has committed to keeping the universal service obligation and no job cuts — but only until 2025. CHANCELLOR Rachel Reeves has said towns are at risk of becoming “banking deserts” due to the spate of high street branch closures.
