Re: 46p for a 1st class stamp
Royal Mail aren't currently making any profits from their Universal Service i.e delivery anywhere in the country for the price of a stamp.
It could be argued that there is inefficiency in Royal Mail which causes the stamp price to be 'high' but I think thats a weak argument. They have been on a programme of massive redundancies (both managerial and front line) over the last 6 years which has produced cut backs in the service.
If you don't like the price now, wait till its privatised, and there are lots of hungry shareholders wanting profits.....