October 24 2014 Latest news:
Monday, January 2, 2012
Commuters will see tickets rise by average of six per cent
Rail users will be having to pay increased fares as of today after the new price hikes come into force.
Southeastern fares rose by an average of six per cent, with prices announced last month.
However, the charges only come into force today, January 2.
Charles Horton, managing director of Southeastern, said: “Nobody likes to see prices rise but there are only two sources of funding for the railways, the general taxpayer and the fare payer. Over the last few years successive Government’s have moved more of the cost of running the railways away from the taxpayer and more towards the people who use rail services.
“The amount of taxpayer subsidy we receive from the Government reduces year-on-year and the RPI plus one per cent fare increase formula helps to offset this.”
The fare increases on regulated fares - peak and season tickets - are set by the Department for Transport and set on the basis of the Retail Price Index for July 2011 plus one per cent, as announced in the Government’s Autumn Statement in November.
However, it was originally set to rise by the RPI plus three per cent.