Royal Mail Unveils £500m Overhaul

The group plans to phase in a new letter delivery model nationwide by May next year to address long-standing criticism from regulators and the public.

Under the new system, cheaper second-class deliveries will move to every other weekday, while first-class post will remain a six-day service.

Regulator Ofcom has stated that Royal Mail must now 'get on and implement' the improvements after fining the company for poor performance last year.

The investment will also fund technology upgrades to improve tracking and reliability across the network.