Today’s Rail Fare Price Rise – the Railfuture View

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The Government has announced a 4.9% increase in fares from 3 March 2024: https://dft-newsroom.prgloo.com/news/significant-intervention-to-cap-rail-fares-comes-as-government-delivers-target-to-halve-inflation

Neil Middleton, Railfuture’s Director specialising on Fares & Ticketing said “It has to be a very lukewarm welcome to today’s announcement that rail fares will increase by 4.9%.  Yes, that’s a lot less than they could have been (the July 2023 RPI rate of 9%), but it’s still 1% more than this month’s CPI of 3.9%”.

“And at the same time, motorists get a much better deal as the ‘temporary’ 5p fuel duty reduction continues – something the government said was due ‘Unique circumstances globally, including the war in Ukraine, have pushed pump prices up to unprecedented levels’.  Unfortunately, the war in Ukraine continues, but fuel prices are now back to late 2021 prices”.

“In addition to simply increasing prices because of inflation, the government could have looked after passengers by actually committing to fares reform – the current maze of rail fares is seriously off-putting to intending passengers and thus a brake on rail revenue.”

“The Government comments ‘Changed working patterns after the pandemic means that our railways are still losing money and require significant subsidies’.  With Leisure now being the most important market for rail – something I cannot see changing, looking after price sensitive passengers is so important.  The railway is at its best when all the seats are taken!”

- Leisure is important: https://media.gbrtt.co.uk/news/leisure-travel-helps-boost-quarterly-rail-revenue-by-gbp-295-million
- Petrol prices: https://www.racfoundation.org/data/uk-pump-prices-over-time  
- Ideas from Railfuture on fares reform: https://railfuture.org.uk/dl3256 (page 4)