Dept Of Transport: Rail Fares To Fall From Jan 2010
18 August 2009 - 10:47AM
Dow Jones News
Department for Transport said Tuesday that rail passengers are
set to benefit from lower rail fares from January 2010 following
Tuesday's announcement that the Retail Price Index (RPI) stood at
-1.4% in July this year.
MAIN FACTS:
-On the majority of rail journeys, fares are regulated by the
Government. Increases to most of those fares are capped at RPI+1%
with the changes implemented in January, based on the previous
July's RPI figure.
-The RPI figure published by the Office for National Statistics
Tuesday means that next January most regulated fares will have to
fall.
-The Government has also taken away the flexibility for
operators to raise individual regulated fares by up to 5% above the
national fare change, protecting passengers from unduly steep rises
in regulated fares next year.
-Transport Secretary Andrew Adonis said: "Tuesday's RPI figure
of -1.4% means that the majority of regulated rail fares, including
most commuter fares, will fall in January.
-"In addition I am removing train operators' ability to increase
individual fares next year by up to 5% above the national fare
change. This means most regulated fares will fall in line with the
national fare change", Adonis said.
-By London Bureau, Dow Jones Newswires; Contact Ian Walker; +44 (0)20 7842 9296; ian.walker@dowjones.com