The Regulator has made substantial changes to his original view, but this is still removal of the reserved area by stealth,' said Gordon Steele, Chief Executive, Guernsey Post.
‘Cutting the reserved area price to £1 rather than the £1.80 we requested and removing packets from the Reserved Area will significantly damage our business. On the Regulator's own figures we could lose a substantial proportion of our revenue and, as we have repeatedly said, this will cause serious financial damage to Guernsey Post and threaten the postal services everyone in the Bailiwick relies on.
‘This is a very serious situation and we are carefully considering our position and next steps.'