Royal Mail Fined For Late Letters And Over Charging

[Hymie]

https://www.bbc.co.uk/news/business-53361579

Apparently Ofcom has fined them £1.5 million – as I’ve posted before on this site, these regulator fines are nothing more than a tax on the people who use the company’s services. Who gets to keep the £1.5 million?

I’m planning to set myself up as some regulator and retire to the Bahamas.

[fiction-factory]

Or it's a reduction in profit and therefore a reduction in dividends or share values for shareholders

[Mamyalynne]

// ‘All financial penalties imposed by Ofcom’s Content
Sanctions Committee are held in our account with the Office of HM
Paymaster General (OPG) for the benefit of the Exchequer. Funds are
transferred to the Bank of England account at agreed times for direct use
by the Exchequer. Neither OPG nor Ofcom benefit from or have use of any
monies made available to Ofcom.//

Plus

//Royal Mail admitted it had made a mistake and donated the sum(overcharged) to the charity Action for Children.//

[Peter Pedant]

yeah I wondered that
fining nationalised units such as hospitals or the Royal Mail is just sort of recycling taxpayers money with nil value added

no the regulator doesnt pocket a fine - it goes where all fines go

[Hymie]

So it is a tax – it goes to the government.

[Peter Pedant]

sorry to go on about it
but Mamas answer is detailing what happends to all fines

they arent damages like in the civil courts after car crashes ( which may be taxable ) - too much detail

[fiction-factory]

>fining nationalised units such as hospitals or the Royal Mail

But Royal Mail is a PLC rather than a nationalised industry

[Peter Pedant]

// So it is a tax – it goes to the government.//
um yeah in AB speak
but no otherwise

unless you think that Prince Harrys whack he gets from Prince Charles is recycled tax - some people do
( I look on it as a little helping tenner than Daddy gives to a needy son)

[Peter Pedant]

oh god sorry I dont read the financial pages
( Royal Mail privatised)
oops - must spend less time on AB

[Gromit]

But what do you do when privatised utility companies (often monopolies) under perform ?

They advertised a service, charged people money, then didn’t deliver (no pun intended).
Of course they should be penalised for ripping off the Great British public. Or else the services will get even more worse.

[ToraToraTora]

Hymie; "as I’ve posted before on this site, these regulator fines are nothing more than a tax on the people who use the company’s services. " - err no, it's a tax on imbeciles.

[douglas9401]

To be frank we need to stamp out this kind of poor performance, especially post Brexit.
Strive for improvement, push the envelope.

Back in a jiffy.

[Peter Pedant]

// But what do you do when privatised utility companies (often monopolies) under perform ?//
ummmm
the same as when they were nationalised - nothing
so no change there then

yes I am aware of todays news
oops 30 bn litres a day of water goes into the water table not the tap - like it has for chrissknows how long

[Hymie]

TTT – why do you think people who use the Post Office are imbeciles?

[Gromit]

Hymie.
The Post Office and Royal Mail are two entirely different entities.

[Hymie]

TTT – OK, why do you think people who use Royal Mail are imbeciles?

[DTCwordfan]

we ABers can't wait, Hymie, The Bahamas it is. However, be prepared to put down $US 5 million for a house so as to gain a local passport and get a 0% taxation on any local or global income you bring in.

[Hymie]

No problem, if I need more money I’ll just set up another regulator to keep the money rolling in.

Think of all the companies providing you with a crap service at an inflated price – as regulator I will promise to bring this to an end, while sipping vintage champaign on the veranda of my beach-front home.

[choux]

Hymie, choose a good vintage ;)

Today I received 2 items from Ireland:
Parcel posted on 06/07/20
Letter posted on 10/06/20

Priority Aerphost is an excellent service but Royal Mail can fail to deliver a letter complete with full address including post code?

The letter was posted separately from another card (from the same sender and on 10/06/20) and I received the card on 13/06/20. No damage to the envelope delivered today and no additional writing on it to explain the inordinate delay. Disgusting service.

[dannyk13]

No complaints with Royal Mail. ordered something on line on the 7th which was posted second class and it arrived on the 9th.

[Peter Pedant]

some OAP was overcharged because the post had held up his cheque which makes me want to go upstairs and check ( pun intended) I am up to date with my credit cards