I love how he uses the nominal fare increase to make the far sound enormous, but then doesn't account for the fact that inflation will rise considerably over the next 20 years.
By then we will likely have £5 coins and the penny will be long gone.
all the economic modelling for HS2 Ltd has worked on the assumpton that High Speed ticket prices and classic ticket prices will be the same. Hence, the ticket revenue for HS2 has been calculated by taking current ticket revenue and inflating by a standard annual factor.
That said, almost all high speed services elsewhere in the world carry a fare supplement; British Rail (as was) were most unusual in introducing the 'high speed' Intercity 125 services with no supplement.
The reasons for this seem political rather than economic. Most High Speed rail does not cover its operating costs; so each seat is subsidised. Most countries seem to feel that equity demands that passengers benefitting from an extra subsidy should pay an extra fare.
HS2 Ltd, by contrast, appear to be planning on the basis that HS2 (once phase 2 is completed), will cover its operating costs (though not of course its capital costs). If so, they may be able to get away with not charging a supplement, which in turn means that they are likely to be better able to fill their trains.