A new railcard for people aged 26-30 is to be launched early next year offering a third off most train fares as part of a wider government initiative to offer better deals for hard-pressed
millennials.
It is understood that the chancellor, Phillip Hammond, is preparing to unveil a package of giveaways in his November budget aimed at shoring up support among younger voters, who have been among the hardest hit groups since the 2007-08 financial crisis.
The rail industry is also understood to be launching a major new initiative, under the working title “One plan for the railways” on 6 November, which the new railcard is believed to play a part in.
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The initial cost to the train operator is understood to be about £20m a year in reduced revenue, a shortfall expected to be made up by the Treasury.
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