That's a good point, but if a train is more than 5 minutes late at any scheduled station then connections (a connection generally being around the 7-10 minute mark, unless there are suitable waiting facilities* at the interchange points) will be jepordised. Therefore something needs to be done, whether that is improving waiting facilities, guaranteing to hold connections or imposing penaltys if more than x% of trains are over 5 minutes late. As I said though, you make a good point about TOCs just putting fares up if the penalty is a fine.Many posters seem to forget we're talking about PPM rather than just semantics. If a train timetabled to arrive at 1212 arrives at 1213 then it is late by definition - but the point is where should PPM define a train as being late and 'failing charter'?
If posters propose to tighten PPM targets for TOCs, could they explain where the extra money for paying those financial penalties will come from? Don't say 'the TOC' because we all know that's the wrong answer.
The money will come from you, via the farebox.
*A bus shelter is not good enough
Maybe there is a way to fine TOCs without them putting fares up. Something taken out of the profit that they would otherwise pocket for themselves each year (like an extra 'tax') might work, if the wording of the contract is carefully planned.I do think there should be a clause in the franchise that binds the company to keeping within a certain %, or they will lose the franchise (or get some kind of other penalty - not purely financial as a fine).