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Postal regulators have called for Royal Mail to be partially privatised in order for them to increase the effectiveness and quality of the business. It has been noted before, by Postcomm, that the financial issue of Royal Mail will only worsen over time unless bold action was taken.
Nigel Stapleton, (Postcomm’s chairman) has said that without private sector investment or some sort of government subsidy the business is looking to fail.
The only time Royal mail was truly secure in its placement was back in 1650, back when it held the a monopoly for 350 years which ended in 2006 when other operators were allowed to collect and deliver any mail they choose.
Although Royal mails dominance was not a short lived one it seems mostlikly that the business will fall to failure if private sector investment does not come into play. In the year to the end of March Royal Mail lost £279m. The core root of this loss is because Royal Mail has lost a lot of business in the lucrative bulk mail collection and sorting market, but still must uphold less profitable universal delivers.
This proposal does not come without scrutiny, the Communication Workers Union, (the main postal workers’ union), said Postcomm’s proposal overstepped its remit.
Although Royal Mail is falling into financial difficulties it still does hold 90% of the marker, the main issue it seems, besides the fact they constantly lose mail, is that they need to become a more effective and objective business. Royal Mail has had too light a ride with its 350 year dominance and has become lazy or, as economists call it, productively inefficient.
There is and has always been highly debated over, the idea of; a monopoly best because or A or is a competitive market best because of B. It is easy to notice that, not only from 350 years leading to failure but also form the lack of efficient allocation Royal Mail uses that it would be best for the business to have an open market forcing it to become a highly productive and efficient in the market.
“Royal Mail needs access to private capital and a stronger set of incentives to enable it to restructure and become more profitable,” Postcomm said.
The independent review of the postal sector will submit its final report this summer and will give deeper insight in where Royal Mail may be heading.
You pay 1-20 pounds for an album for your favourite singer, band, rapper or DJ or maybe you illegally download them, in which case stop and support your filthy rich singer.
An elastic market is where if price goes up there is a huge drop in domain compared to the profit gained, a price inelastic market is when the reverse happens, increasing price will lead to a smaller then proportionate drop in sales increasing profit.
When trying to identify how elastic music is there are a few variables to include: Do you like them and have you got enough money to pay if both of these are yes then would you pay? If I gave you $100 and your favourite singer just released their new album which cost $100 would you buy it? I wouldn’t which means it’s a price elastic market, contrasting ideas anyone?
The UK’s unemployment has risen by a staggering 14,000 in the last 3 months; this is a rise to 1.61 million unemployed people in the UK. This is only another clue pointing towards the UK falling into a recession.
The number of people claiming jobseekers allowance has climbed by a staggering 7,200 to 806,300 last month. These figures only further reinforce the fact that the UK is falling into a recession and a recession at this time may be the biggest slump the UK has seen.
With increases in the house prices by nearly 70% in the recent years the economic slowdown comes as a shock and has already shocked the UK stock market down and house prices are beginning to fall.
Many economists are speculating the recession to come within the next three months and if this trend continues it seems like a likely estimation.
If I was the competition commission the fact that prices have rose well above the amount of the gas actualy costs to import would have sent me running into the company to find out why. The fact of the matter is that since 2003 the price for electricity has rose by around 70%!
British Gas has attempted to defend its stupendous rise in profit by saying “the money generated will go into research and development to remove reliance on offshore gas and electricity”.
The rise in British Gas profits hasn’t gone unnoticed and it seems that many officials as well as the public are calling for the competition commission to step in and find out what the real cause of this increase in price is. British Gas had been under the scrutiny of the public eye of late and this is reflected in the amount of customers leaving British Gas day by day. British Gas think that a giant boom in their profits by 40% is just simply is not enough. Hopefully British Gas will be put under investigation and the UK will see some price decreases.
