Will we have to pay £1 for a 1st-class stamp? Cost to soar as Ofcom sweeps away capped prices

Royal Mail may soon be allowed to charge as much as it likes for a first-class stamp, raising fears the price could hit £1.

Ofcom wants to do away with the caps which limit the amount Royal Mail can charge for its services. The proposals could come into force as soon as April.

Just one price control will remain – the price of a second-class stamp, which has already risen from 19p in 2000 to 36p today.   More