Latest news with #Brakey
Sky News AU
23-06-2025
- Business
- Sky News AU
AusPost letter stamp prices likely to spike as major change gets pass from consumer watchdog
Australia Post stamp prices could rise significantly from next month, with the country's consumer watchdog deciding not to oppose major changes. AusPost has proposed a price increase of 13.3 per cent for its basic postage rate, which includes standard small and large letters. The shift would see the rate for sending ordinary small letters rise from $3 to $3.40, while the price for large letters, which are those between 125 to 250 grams, would go from $4.50 to $5.10. The Australian Competition and Consumer Commission (ACCC) has decided not to oppose the changes, which will come into effect from July 17 if Minister for Communications Anika Wells does not reject the move, a statement on Monday from the consumer watchdog said. Prices for seasonal greeting card and concession stamps will not be raised under the move, the statement said. ACCC Commissioner Anna Brakey has said AusPost's submission signaled that its standard letter posting service is currently running at a loss. 'We understand that these price increases will mean extra costs for consumers,' Ms Brakey said. 'However, our decision to not object to Australia Post's proposed price increase is based on evidence that the costs to Australia Post of providing the letter service are greater than the revenue it produces." AusPost's submission to ACCC outlined that its letters side of the business is 'in decline', wtith AusPost currently delivering on average just two letters to every Australian household every week. Ms Brakey said the ACCC's decision has recommended that AusPost look into how it can 'alleviate affordability issues for businesses'. 'Further we made recommendations to address a number of other concerns expressed by stakeholders during consultation,' Ms Brakey said. 'We are especially mindful of the impact price changes can have on vulnerable Australians, and so our decision paper recommends that Australia Post increases the number of concession stamps per customer, which is currently capped at 50 per year.' AusPost chief executive Paul Graham said in February the postal business is 'dramatically changing' with the growth of parcel deliveries and ecommerce. 'We're seeing the ongoing decline in mail, we're seeing the ongoing decline in over-the-counter services – be that bill pay or other things that we do,' he said.
Perth Now
23-06-2025
- Business
- Perth Now
Price hike coming for Australia Post stamps
The price of Australia Post stamps will be hiked next month following approval from the country's consumer watchdog. A stamp for a basic small letter will increase from $1.50 to $1.70, which the Australian Competition and Consumer Commission says is still less than in comparable countries. Across the board, prices are going up a little over 13 per cent. 'We are especially mindful of the impact price changes can have on vulnerable Australians and so our decision paper recommends that Australia Post increases the number of concession stamps per customer, which is currently capped at 50 per year,' ACCC commissioner Anna Brakey said. 'We understand that these price increases will mean extra costs for consumers,' she said. However, Australia Post loses money running the national letter service, Ms Brakey said. Following the ACCC's approval, announced Monday, Communications Minister Anika Wells can still reject the price increase. NewsWire has contacted the Minister's office for comment. Delivering letters does not turn a profit for Australia Post. NewsWire / Andrew Henshaw Credit: News Corp Australia Fewer and fewer Australians send and receive letters. In submissions made to the ACCC, Australia Post says each household receives only two letters each week. But the ACCC wants Australia Post to work out ways to make letters cheaper for businesses that are required to send them. 'As there are many businesses in Australia that still rely on sending letters, it is crucial that Australia Post has a transparent dialogue with these customers so they are aware of potential pricing changes well ahead of time,' Ms Brakey said. 'While Australia Post has been working constructively with the ACCC on these recommendations, in most instances, we expect full implementation to be reached, so that we can conduct rigorous cost-based assessments going forward,' Ms Brakey said. The average price of a single postage stamp in OECD countries is $1.93. From next month, large letters up to 125g will increase from $3.00 to $3.40. Ordinary large letters between 125g and 250g are going up from $4.50 to $5.10. Concession stamps will remain $3 for five stamps, and seasonal greeting cards are staying at 65c.
West Australian
23-06-2025
- Business
- West Australian
Consumer watchdog ACCC approves Australia Post stamp price hike
The price of Australia Post stamps will be hiked next month following approval from the country's consumer watchdog. A stamp for a basic small letter will increase from $1.50 to $1.70, which the Australian Competition and Consumer Commission says is still less than in comparable countries. Across the board, prices are going up a little over 13 per cent. 'We are especially mindful of the impact price changes can have on vulnerable Australians and so our decision paper recommends that Australia Post increases the number of concession stamps per customer, which is currently capped at 50 per year,' ACCC commissioner Anna Brakey said. 'We understand that these price increases will mean extra costs for consumers,' she said. However, Australia Post loses money running the national letter service, Ms Brakey said. Following the ACCC's approval, announced Monday, Communications Minister Anika Wells can still reject the price increase. NewsWire has contacted the Minister's office for comment. Fewer and fewer Australians send and receive letters. In submissions made to the ACCC, Australia Post says each household receives only two letters each week. But the ACCC wants Australia Post to work out ways to make letters cheaper for businesses that are required to send them. 'As there are many businesses in Australia that still rely on sending letters, it is crucial that Australia Post has a transparent dialogue with these customers so they are aware of potential pricing changes well ahead of time,' Ms Brakey said. 'While Australia Post has been working constructively with the ACCC on these recommendations, in most instances, we expect full implementation to be reached, so that we can conduct rigorous cost-based assessments going forward,' Ms Brakey said. The average price of a single postage stamp in OECD countries is $1.93. From next month, large letters up to 125g will increase from $3.00 to $3.40. Ordinary large letters between 125g and 250g are going up from $4.50 to $5.10. Concession stamps will remain $3 for five stamps, and seasonal greeting cards are staying at 65c.
The Advertiser
23-06-2025
- Business
- The Advertiser
Australia Post delivers a price hike to send letters after 'significant losses'
The cost of sending a basic letter is set to rise 20 cents to $1.70 from July 17 after the ACCC decided not to oppose an increase. The consumer watchdog acknowledged Post's "significant losses" in the hundreds of millions from its letter business to tick off a proposed 13.3 per cent increase. The price to send ordinary large letters up to 125g will increase 40 cents to $3.40, and ordinary large letters between 125 and 250 grams will rise 60 cents to $5.10. In the draft price notification, Australia Post said it generated a loss of $361.8 million on its letter business, despite modernisation improvements and the previous price increase of 25 per cent in 2024. ACCC commissioner Anna Brakey said they understood the increase would mean extra costs for consumers. "Australia Post's proposed price increase is based on evidence that the costs to Australia Post of providing the letter service are greater than the revenue it produces," Ms Brakey said. It was "crucial" for the postal service to have transparent dialogue with businesses that relied on or were required to send physical mail. There would be no change to the price of concession stamps, $3 for five and stamps for seasonal greeting cards, 65 cents. Ms Brakey said the ACCC was mindful of how the increase would affect vulnerable Australians and they recommended an increase to the annual number of concession stamps per customer from the current 50. Australia Post said letter volumes were now at a level not seen since the 1950s, with household only receiving two letters per week and expected to halve in the next five years. Federal communications minister Anika Wells has 30 days to reject the proposed increase before it takes effect. READ MORE: Dog deterrent spray rolling out to all posties after increasing attacks The cost of sending a basic letter is set to rise 20 cents to $1.70 from July 17 after the ACCC decided not to oppose an increase. The consumer watchdog acknowledged Post's "significant losses" in the hundreds of millions from its letter business to tick off a proposed 13.3 per cent increase. The price to send ordinary large letters up to 125g will increase 40 cents to $3.40, and ordinary large letters between 125 and 250 grams will rise 60 cents to $5.10. In the draft price notification, Australia Post said it generated a loss of $361.8 million on its letter business, despite modernisation improvements and the previous price increase of 25 per cent in 2024. ACCC commissioner Anna Brakey said they understood the increase would mean extra costs for consumers. "Australia Post's proposed price increase is based on evidence that the costs to Australia Post of providing the letter service are greater than the revenue it produces," Ms Brakey said. It was "crucial" for the postal service to have transparent dialogue with businesses that relied on or were required to send physical mail. There would be no change to the price of concession stamps, $3 for five and stamps for seasonal greeting cards, 65 cents. Ms Brakey said the ACCC was mindful of how the increase would affect vulnerable Australians and they recommended an increase to the annual number of concession stamps per customer from the current 50. Australia Post said letter volumes were now at a level not seen since the 1950s, with household only receiving two letters per week and expected to halve in the next five years. Federal communications minister Anika Wells has 30 days to reject the proposed increase before it takes effect. READ MORE: Dog deterrent spray rolling out to all posties after increasing attacks The cost of sending a basic letter is set to rise 20 cents to $1.70 from July 17 after the ACCC decided not to oppose an increase. The consumer watchdog acknowledged Post's "significant losses" in the hundreds of millions from its letter business to tick off a proposed 13.3 per cent increase. The price to send ordinary large letters up to 125g will increase 40 cents to $3.40, and ordinary large letters between 125 and 250 grams will rise 60 cents to $5.10. In the draft price notification, Australia Post said it generated a loss of $361.8 million on its letter business, despite modernisation improvements and the previous price increase of 25 per cent in 2024. ACCC commissioner Anna Brakey said they understood the increase would mean extra costs for consumers. "Australia Post's proposed price increase is based on evidence that the costs to Australia Post of providing the letter service are greater than the revenue it produces," Ms Brakey said. It was "crucial" for the postal service to have transparent dialogue with businesses that relied on or were required to send physical mail. There would be no change to the price of concession stamps, $3 for five and stamps for seasonal greeting cards, 65 cents. Ms Brakey said the ACCC was mindful of how the increase would affect vulnerable Australians and they recommended an increase to the annual number of concession stamps per customer from the current 50. Australia Post said letter volumes were now at a level not seen since the 1950s, with household only receiving two letters per week and expected to halve in the next five years. Federal communications minister Anika Wells has 30 days to reject the proposed increase before it takes effect. READ MORE: Dog deterrent spray rolling out to all posties after increasing attacks The cost of sending a basic letter is set to rise 20 cents to $1.70 from July 17 after the ACCC decided not to oppose an increase. The consumer watchdog acknowledged Post's "significant losses" in the hundreds of millions from its letter business to tick off a proposed 13.3 per cent increase. The price to send ordinary large letters up to 125g will increase 40 cents to $3.40, and ordinary large letters between 125 and 250 grams will rise 60 cents to $5.10. In the draft price notification, Australia Post said it generated a loss of $361.8 million on its letter business, despite modernisation improvements and the previous price increase of 25 per cent in 2024. ACCC commissioner Anna Brakey said they understood the increase would mean extra costs for consumers. "Australia Post's proposed price increase is based on evidence that the costs to Australia Post of providing the letter service are greater than the revenue it produces," Ms Brakey said. It was "crucial" for the postal service to have transparent dialogue with businesses that relied on or were required to send physical mail. There would be no change to the price of concession stamps, $3 for five and stamps for seasonal greeting cards, 65 cents. Ms Brakey said the ACCC was mindful of how the increase would affect vulnerable Australians and they recommended an increase to the annual number of concession stamps per customer from the current 50. Australia Post said letter volumes were now at a level not seen since the 1950s, with household only receiving two letters per week and expected to halve in the next five years. Federal communications minister Anika Wells has 30 days to reject the proposed increase before it takes effect. READ MORE: Dog deterrent spray rolling out to all posties after increasing attacks
Perth Now
20-05-2025
- Business
- Perth Now
Qantas and Jetstar cash in on lack of airline competition
Australia's sole budget carrier has cashed in on the lack of competition in the nation's aviation sector. Within the Qantas Group's whopping $1.5 billion earnings before tax in the first half of 2024-25, Jetstar jacked up prices to record an operating margin of 18 per cent. That is up from 13 per cent in the first half of the 2023-24 financial year, the increase coinciding with fellow budget airline Bonza's collapse in April 2024. It helped delivered a massive earnings increase for the Qantas Group, with Jetstar domestic flight revenue jumping 54 per cent in that same time frame. The findings come from the Australian Competition and Consumer Commission's quarterly look at domestic airline competition, which found both Qantas and Virgin Australia had recorded impressive financial results in the back half of 2024. Virgin has not publicly reported its half-year results, although chief executive Jayne Hrdlicka said in February it had achieved record profits. ACCC commissioner Anna Brakey said Jetstar's earnings jump was largely explained by Bonza's demise. Compared with an 18 per cent operating margin on domestic flights, Jetstar's international flights were at 15 per cent due to the increased competition, the report said. 'The high half-yearly earnings reported by Qantas Group reflect its dominance of the domestic airline sector, with Qantas and Jetstar accounting for over 60 per cent of passengers,' Brakey said. 'Jetstar has been able to capitalise on the continued absence of competitive pressure from another low-cost carrier in the domestic market to increase its market share and operating margin.' The report found airlines had improved their punctuality in the past six months from 74.5 per cent to 80.2 per cent. But that still sits below the industry's long-term average of 80.7 per cent. 'It is encouraging to see the on-time arrival rate improving as this means travellers can have more confidence that their flight will arrive at the time they booked,' Brakey said. The cancellation rate spiked in the March quarter to five per cent — way above the long-term mark of 2.2 per cent — but that period included ex-Tropical Cyclone Alfred. The average airfare increased by 9.6 per cent between the three months to January 2025 and March 2025, but the ACCC did not find that result to be too alarming. 'The trends observed in average airfares since January reflect seasonal factors and are broadly consistent with those observed in previous years,' Brakey said. 'Average airfares have come down from their peak in October 2024.'
