I see the headlines for this initiative announced today is "Rail Fare Freeze"
http://www.bbc.co.uk/news/election-2015-32245068
Further on, it only applies to regulated fares, which progressively seem to cover less and less of journeys as TOCs become adept at pushing unregulated fares and restricting trains that regulated tickets are permitted on.
It presumably also does not cover rail within London, a non-inconsiderable percentage of the total, where fares on Oyster have rocketed way beyond inflation in recent years.
I've never been clear how these variations in the increase allowed work through to TOC revenue, or not, on established franchises. Is there a formula that adjusts government subsidy dependent on what increase they allow, or not.
http://www.bbc.co.uk/news/election-2015-32245068
Reading down, it however seems that it is not a freeze but keeping them in line with inflation.The Conservatives have said regulated rail fares in England would rise by no more than inflation if they win the election.
They said the move - extending the policy for 2014 and 2015 - would save an average rail commuter £400 by 2020.
The Lib Dems said they had fought in government to keep rail fares down while the Tories "repeatedly argued" for above-inflation increases.
Labour called the pledge "unfunded, uncosted and... totally unbelievable".
The pledge would affect regulated fares, which cover about half of all tickets sold including season tickets and day returns.
A restriction limiting rises in these fares to RPI (retail prices index) inflation has been in place for the past two years under the coalition government.
Between 2004 and 2013, regulated fares rose by an average of RPI plus 1% annually, in an attempt to reduce taxpayer subsidies to the industry.
In 2014 and 2015 the government limited the increase to RPI only. In January, regulated rail fares in England increased by 2.2%
Further on, it only applies to regulated fares, which progressively seem to cover less and less of journeys as TOCs become adept at pushing unregulated fares and restricting trains that regulated tickets are permitted on.
It presumably also does not cover rail within London, a non-inconsiderable percentage of the total, where fares on Oyster have rocketed way beyond inflation in recent years.
I've never been clear how these variations in the increase allowed work through to TOC revenue, or not, on established franchises. Is there a formula that adjusts government subsidy dependent on what increase they allow, or not.
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