Guernsey Post to have more say on prices

Guernsey Post is to be given more freedom to set prices, the Office of Utility Regulation (OUR) has announced.

Previously changes in postal tariffs had to be agreed by the regulator.

Michael Byrne, deputy director general of the OUR, said: "Given the current state of the market the time is right to take a different approach."

He said the decision followed the recent announcement by the UK Government to end low-value consignment relief to the Channel Islands.

Currently anything valued under 拢15 can be sent to the UK without VAT being charged on the contents.

The changes are due to come in from April 2012, the same time as the ending of the low-value consignment relief.