- The move from the Chancellor and Transport Secretary will keep household costs down for hardworking families and drive economic growth by limiting inflation by keeping travel costs down.
- No price increases for fares this year with season ticket holders on the busiest routes set to save hundreds of pounds.
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 today, helping with the cost of living and supporting economic growth.
The Chancellor is set to freeze fares at the Budget, with passengers not paying a penny more on season tickets, peak returns for commuters and off-peak returns between major cities.
The move 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.
It comes as the Chancellor is set to deliver a Budget that makes the fair choices to deliver on the country’s priorities to cut NHS waiting lists, cut national debt and cut the cost of living.
With transport costs making up 14% of household spending, the cost-cutting move will provide real savings – delivering on the government’s commitment to put more money in working people’s pockets. It will also directly limit inflation by holding down a major component of everyday costs.
The changes are part of the government’s plans to rebuild a publicly owned Great British Railway that the country can rely on and be proud of.
Great British Railways will deliver value for money through bringing rail tickets into the 21st century with tap in tap out and digital ticketing, alongside investing in superfast WiFi.
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 said
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 3 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.
The Railways Bill will create Great British Railways (GBR), a new publicly owned company, that will run and manage the tracks and trains used every day – ending years of fragmentation, driving up standards for passengers, and making journey easier and better value for money.
GBR will be accountable to passengers and taxpayers, bringing fares and ticketing into the 21st century, including through a new GBR website and app and building on the expansion of successful Pay As You Go and fares trials across the country.
CEO of Campaign for Better Transport Ben Plowden said
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.
