The Minister for Communications says An Post will be given greater freedom in setting the price of its products in a bid to make the company more financially sustainable.

A root and branch review has been announced of the mail firm today, along with an increase in the price of a postage stamp.

Minister Denis Naughten says the changes will come into place in the new year once new legislation is enacted.

An Post says the global trend of e-substitution for postal mail is impacting on An Post’s business.