The next Labour government will put rail passengers first by putting the brakes on rapidly increasing rail fares andsaving commuters an average of £1,014 on their season tickets
Under a Labour government, passengers will on average save £1,014 on their rail season tickets over the next parliament, compared to the cost under a Tory government.
Since 2010, regulated rail fares have risen by 27.1%, increasing the average cost of a season ticket by £594.
The 2015 Conservative manifesto included a commitment to keeping rail fares frozen in real terms. However, regulated fares were capped at the Retail Price Index (RPI), which consistently over-estimates inflation, rather than the Consumer Price Index (CPI).
Labour will cap regulated fair rises at the Consumer Price Index (CPI), using the money saved through bringing rail franchises back into public ownership. As more services come into public ownership, greater amounts of savings become available, and Labour will aim to introduce further fare caps or reductions.
Jim Cunningham, Labour’s candidate for Coventry South said:
“One popular route in Coventry South is Coventry to Oxford where rail users have seen season tickets increase from £3388 in 2010 to £4440 today.
“The Tories have, for seven years, presided over huge increases – and under another five years of the Tories ticket prices are on course to be as high as £5233 by the end of the next parliament.
“Labour has a different plan – to bring rail franchises back into public ownership that would save commuters in Coventry £1617 over the next five years.
Labour are also committed to maintaining three trains from Coventry to London per hour. The Tories have given no such guarantee.”
Jeremy Corbyn, leader of the Labour Party, said:
“Under the Conservatives, rail fares have sky-rocketed and tickets are some of the most expensive in Europe.
“Labour will take Britain's railways back into public control and put more money into people's pockets by capping fares. This will save commuters £1,014 on their rail season tickets over the next Parliament, as part of our plan to promote services for the many, not the few.”
Andy McDonald MP, Labour’s Shadow Transport Secretary, said:
“Theresa May’s failure to commit to freezing rail fares shows just how out of touch they are.
“Under the Conservatives, fares have risen three times faster than wages, passenger satisfaction is plummeting, punctuality has fallen to a 10 year low and promised upgrades have either been delayed by years or scrapped altogether.
“Privatised rail has failed and it will take more than tinkering around the edges to deliver much needed improvements for passengers. Labour will take the railways back into public ownership and put passengers first by capping fares.
The 2017 Tory manifesto has failed to make any commitment to keeping rail fares frozen in real terms, meaning rail fares are likely to rise above inflation (RPI) if the Conservatives win the general election.
Between 2011 - 2013 the Tories allowed fares to rise by RPI plus 1 per cent. If fares continue to increase by the same rate, the average cost of a season ticket will rise by an extra £160 by the end of the next parliament, compared to being frozen at RPI.