RAIL fares into London are set to rise by at least 10% in the New Year, after the government indicated it is to scrap the cap that limits increases.
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At the moment, train companies can only hike fares by inflation plus one per cent every year. That translates into maximum fare rises of 5.8% in January.
But it has now been revealed that Transport Secretary Philip Hammond is to get rid of the cap in order for train firms to raise more cash from the travelling public.
Hammond hopes in turn he can then cut government funding to the railways.
“Hammond is taking a big gamble by allowing the private train companies to increase fares by up to 10% in January,” said Gerry Doherty, General Secretary of the Transport and Salaried Staff Association.
“He will be committing political suicide if he scraps the fares price cap next year and allows the rail companies the freedom to charge what they like, when they like.
“The commuters of the South East who put the coalition into power in May will throw them straight out again in 2015 if they are faced with year-on-year increases of 10%.”
Doherty might just have a point. A recent poll for the Campaign for Better Public Transport found that 75% of people in the London and Home Counties would be less likely to vote for the party that ended the fare rise cap.
Some 10%-extra examples from popular commuter routes help explain why the end of the cap would be so unpopular.
A Brighton-London season ticket would leap by £350 in January, to just over £4,000 a year; Guildford-London would increase by over £270 to break the £3,000 barrier and Colchester-London would rocket by over £400 to hit nearly £4,400.
