Ailing British state-owned postal operator Consignia has requested permission from regulator Postcomm for a 1p rise in the price of stamps.

The post office claims the increase, which would bring in up to £170 million ($244m; €278m) extra per year, is necessary to guarantee its universal service and provide funds for its restructuring scheme. An identical rise was rejected by the watchdog last year.

Consignia chairman Allan Leighton also warned that further rises – as much as 3p a year – would be necessary if Postcomm’s plans to introduce competition into the sector are implemented too quickly.

Data sourced from: BBC Online Business News (UK); additional content by WARC staff