• Sun. Jan 29th, 2023

Millions of train passengers face hike in fares of nearly 6% – largest rise in over a decade

BySwanzi010

Dec 22, 2022

Millions of train passengers face a hike in fares of nearly 6% from March, the Department for Transport has said.

The increase is being imposed to support “crucial investment and the financial stability” of the railway, the department said.

Transport Secretary Mark Harper said: “This is the biggest-ever government intervention in rail fares.

“I’m capping the rise well below inflation to help reduce the impact on passengers.”

Inflation stood at 10.7% in November, under the core consumer prices index measurement, official figures show.

Fares are not being increased in line with inflation, Mr Harper said, because with the impact of higher prices being felt across the UK economy, “we do not want to add to the problem”.

“This is a fair balance between the passengers who use our trains and the taxpayers who help pay for them,” he added.

However, it is the largest rise in more than a decade.

Regulated fares are overseen by the government following the privatisation of the rails. Most standard and saver return fares and weekly season tickets are regulated fairs.

Season and flexible tickets can be bought in January and February at the current price, ahead of the price hike.

The 5.9% price rise is inline with average earnings growth in July of this year – rather than the retail price index (RPI) measure of inflation as is customary – to make it “easier on family finances while not overburdening taxpayers”, the DfT said.

Official figures from the Office of National Statistics (ONS) showed average regular pay growth was 6% for the private sector in May to July this year, and 2% for the public sector. Due to inflation, the vast majority of workers have suffered a real terms pay cut.

A below inflation rise had been announced in the summer to help travellers cope with the cost of living crisis. The deferred rise, from January to March, was also announced in August.

The fair increase has been described as “brutal” by shadow transport secretary Louise Haigh.

“This savage fare hike will be a sick joke for millions reliant on crumbling services. People up and down this country are paying the price for twelve years of Tory failure,” she said.

Industrial action has been taking place across the rail network for the past six months as unions seek pay improvements and guarantees over working conditions and jobs. Strikes are set to continue from 6pm on Christmas Eve to 29 December and 3-7 January.

Labour have said the near-record fare rise will mean commuters between Birmingham and London will pay nearly £700 more next year, than this year and the average commuter faces paying a staggering £3,466 for their season ticket, an increase of £1,272, or 58% more, than in 2010.

In a statement, the party also said average fares will rise to 58% more than they were in 2010, twice as fast as wages.

Source : Sky.com

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