02 January 2015/Categories: Industry News
The government’s latest set of regulations on rail fare price rises has come into operation for 2015.
Increases have been capped at the rate of inflation (RPI), which is currently 2.5 per cent. Rail operators were previously able to put prices up by an extra two per cent above RPI, but this power has now been rescinded. The average rise for 2015 across the UK is 2.2 per cent.
Rail operators will also be required to tell passengers if there is a cheaper ticket available for their journey at the point of purchase.
To mark the occasion, transport secretary Patrick McLoughlin visited the ongoing £700 million upgrade to Birmingham New Street station.
Mr McLoughlin said: “It is important that we recognise passengers’ concerns about the cost of rail fares. This is why we have frozen them for the second year in a row.”
Recent figures from Network Rail and the Rail Delivery Group show that for every pound spent on train tickets, only three pence goes towards the operator’s profits.
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