Royal Mail has been slapped with a £10.5 million fine for missing its post delivery targets in the 2023-2024 financial year.
The fine is the second in two years Royal Mail has been slapped with a £10.5 million fine for not delivering parcels quick enough. In a concerning sign in the runup to Christmas, Ofcom has given revealed they are handing out the fine after only three-quarters of first class post was delivered on time. And 92.7% of second class post was delivered on time, below its 98.5% target, it said. The fine is the second in two years, after the watchdog also gave Royal Mail a £5.
Ian Strawhorne, Ofcom director of enforcement, said: ‘With millions of letters arriving late, far too many people aren’t getting what they pay for when they buy a stamp. Ofcom has given revealed they are handing out the fine after only three-quarters of first class post was delivered on time ‘Royal Mail’s poor service is now eroding public trust in one of the UK’s oldest institutions. ‘This is the second time we’ve fined the company since the pandemic.
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