You are here: Home - Household Bills - News -

Rail fares up 3.8% today

0
Written by:
01/03/2022
Train ticket prices in England and Wales have increased by 3.8% today – the steepest rise in nine years.

Commuters have today been hit with a 3.8% increase in regulated rail fares, including season tickets and some off-peak return tickets on long distance journeys.

According to the industry body, Rail Delivery Group, today’s rise is the steepest since January 2013.

Until the pandemic, fares were raised in January each year by a formula based on the RPI rate of inflation from the previous July figure, plus 1%.

But in December, the Department for Transport announced it would cap rail fares to just the RPI rate of 3.8%.

It would also push back the implementation date to March to give passengers more time to purchase cheaper flexible and season tickets at the existing rate.

The current RPI rate stands at 7.8%.

Taxpayers have already invested more than £14bn to keep services running during the pandemic. The government said the rise will help meet some of these costs and will also help pay for the service increases and improvements on many lines.

To further support those returning to trains, the ‘Book with Confidence’ scheme was also extended. This means that until 31 March 2022, passengers can change their travel plans up until the evening before departure without being charged a fee, or cancel their tickets completely and receive refunds in the form of rail vouchers.

Commuters are also able to buy flexible season tickets which offers regular passengers the potential to save hundreds of pounds and far greater flexibility for those travelling two or three days a week.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Rail strikes: Your travel and refund rights

Thousands of railway workers will strike across three days this week, grinding much of the transport system to...

How your monthly bills could rise as the base rate reaches 1.25%

The Bank of England has raised the base rate to 1.25% as predicted – the fifth consecutive rise in just six ...

Low-income pensioner? You could gain £3k top-up

Hundreds of thousands of retirees struggling with a low income are missing out on Pension Credit worth £3,300...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week