Labour’s Parliamentary candidate for Denton and Reddish, Andrew Gwynne, has welcomed the Labour Party’s proposals for Britain’s railways which will save average rail passengers up to £1000 per year.
Labour will cap regulated fare rises at the Consumer Price Index (CPI), using the money saved through bringing rail franchises back into public ownership. As more services come into public ownership, greater amounts of savings become available, and Labour will aim to introduce further fare caps or reductions.
The plans outlined by Labour also promise:
- That the next Labour Government will put rail passengers first by putting the brakes on rapidly increasing rail fares and saving commuters £1,014 on their season tickets
- Under a Labour Government, passengers will on average save £1,014 on their rail season tickets over the next parliament, compared to the potential cost under a Tory Government.
Since 2010, regulated rail fares have risen by 27.1%, increasing the average cost of a season ticket by £594.
The 2015 Conservative manifesto included a commitment to keeping rail fares frozen in real terms. However, regulated fares were capped at the Retail Price Index (RPI), which consistently over estimates inflation, rather than the Consumer Price Index (CPI).
Andrew Gwynne said:
“Since 2010 rail prices have kept going up, yet services have failed to meet demand right across the country.
“Labour’s ambitious programme for government will put rail commuters first. We will put the brakes on increasing rail fares, saving season ticket holders upwards of £1000 a year.”