Canada Put up proposes elevating stamp costs by two cents subsequent yr

OTTAWA — Canada Put up is proposing to boost the costs of stamps ever-so-slightly subsequent yr.

The federal company says it’s trying to improve the value of stamps two cents, to 92 cents, for a stamp bought as a part of a sheet of stamps, or to $1.07 for a single stamp.

The Crown company says it expects the price to Canadians could be about 26 cents a yr and the price to companies could be about $6.

Rules made public Friday present the price to ship mail or packages internationally would go up between three cents and 48 cents relying on the dimensions and vacation spot.

The proposals are topic to a 30-day session.

If authorized, the brand new charges would take impact Jan. 13, 2020.

Final yr, Canada Put up delivered about three billion items of mail, a 44-per-cent decline from a peak in 2006, although that’s partly due to main work stoppages within the fall associated to a labour dispute.

In the meantime, a mean of 174,000 new addresses are added in Canada every year, requiring Canada Put up to ship to extra locations.

The end result, the Crown company says, is a drop in income with a before-tax lack of $270 million in 2018 in comparison with a revenue of $76 million in 2017.

Growing postage charges would generate $9 million in gross revenues, Canada Put up predicts.