Rail fares to increase by 4.9% - transport watchdog responds
These new rail fares will see already hard-pressed passengers hit with another unwelcome price hike.
Reform to rail fares and ticketing could not be more urgent now. Government needs to set out an alternative vision that makes public transport appealing - this includes affordable fares, rolling out contactless payment options, and improving train service punctuality so passengers are getting real value-for-money.
Notes to editors
Earlier this week the government confirmed a £250million capital investment funding agreement for 2024 with Transport for London: https://www.gov.uk/government/news/ministers-and-tfl-agree-250-million-government-funding-to-upgrade-londons-transport-system#:~:text=Funding%20brings%20much%2Dneeded%20capital,support%20jobs%20across%20the%20country.&text=Ministers%20and%20Transport%20for%20London,to%20improve%20London's%20transport%20system.
TfL has stated it will reassess their recent draft business plan and ‘address the impact of the continuing shortfall in funding.’ It is possible that TfL will match the national rail fares changes as part of this funding agreement framework.
If TfL does match the national rail fares changes, we believe it’s very important that bus fares are kept as low as possible (even if some other modes are increased). That’s because more people use the bus every day in London than any other type of transport, and they’re most used by lower income Londoners. Further price hikes would not be fair and might deter people from using public transport.