Millions of commuters across the country will benefit from a freeze on rail fares for the first time in 30 years, the Chancellor and Transport Secretary have announced, to help with the cost of living and support economic growth.
The Chancellor is set to freeze fares at the Autumn Budget, in a move which will save commuters hundreds of pounds off their season tickets, freeze costs for travellers, and support growth in town centres across the country.
Commuters on the more expensive routes will save more than £300 per year.
With transport costs making up 14% of household spending, the move should provide real savings and limit inflation by holding down a major component of everyday costs.
Chancellor of the Exchequer Rachel Reeves said:
“Next week at the Budget I’ll set out the fair choices to deliver on the country’s priorities to cut NHS waiting lists, cut national debt and cut the cost of living. That’s why we’re choosing to freeze rail fares for the first time in 30 years, which will ease the pressure on household finances and make travelling to work, school or to visit friends and family that bit easier.
Transport Secretary Heidi Alexander commented:
“We all want to see cheaper rail travel, so we’re freezing fares to help millions of passengers save money.
“Commuters on more expensive routes will save more than £300 per year, meaning they keep more of their hard-earned cash.
“This is part of our wider plans to rebuild Great British Railways the public can be proud of and rely on.
Commuters on some of the busiest routes will see significant savings. For example, a typical commuter travelling to work three days a week using flexi-season tickets, will save:
- £315 per year, travelling from Milton Keynes to London
- £173 per year, travelling from Woking to London
- £57 per year, travelling from Bradford to Leeds
The freeze will apply to all regulated fares, including seasons, peak returns for commuters and off-peak returns between major cities, benefitting more than a billion passenger journeys across England.
CEO of Campaign for Better Transport Ben Plowden commented:
“We know that cost is the number one concern for people wanting to travel by train, so it is very welcome that fares will be frozen next year as we have been calling for. As well as helping households with the cost of living, this will enable more people to choose rail, reducing traffic on our roads, benefitting the economy, helping the environment, and connecting communities across the country.
“One of the government’s six objectives for the reformed railways is that they should be affordable. As plans for Great British Railways gather pace, this is a positive sign that affordability for passengers is being given the high priority it deserves.”
Alex Robertson, chief executive of Transport Focus, said:
“Freezing fares will be extremely welcome news for rail passengers who consistently tell us value for money is their highest priority, alongside trains running on time. It should also make it more attractive for people to use the train more often or for the first time.
“We’ve always recognised there is a difficult balance to strike in how the railway is funded between fares and public subsidy. That makes today’s announcement particularly welcome.”
Image credit: iStockphoto.com/mcbirdy
