September 29 2022, Kimpton Fitzroy London
Friday 30 September 2022, JW Marriott Grosvenor
21 November 2022, Hilton London Metropole
Rail passengers face a price hike of 3.5% from January 2015, following the publication of last month’s inflation figures.
The fare rise is determined by adding 1% to the just-published Retail Prices Index inflation figure for July, which is 2.5%.
However, due to the ‘flex’ option, train operators can add a further 2% to some fares, as long as the overall average stays at RPI plus 1% - This means some fares across the UK could go up by 5.5%.
According to Campaign for Better Transport (CBT) next year’s rise will mean that fares will have increased by about 25%, since the coalition came to power in 2010.
Labour has pledged to abolish the flex rule if it wins the next election 2015. Shadow transport minister Mary Creagh, said: "He's allowed train companies to sting passengers with inflation-busting fare rises of over 20% since 2010, costing them hundreds of pounds.”
Michael Roberts, director general of the Rail Delivery Group (RDG), has defended the rise because of the improvements being made to British railways.
“Money from fares pays for more trains, better stations and faster services on what is already Europe’s fastest growing, safest and most improved railway. Over the next five years, £38 billion will be invested in improving the network.
He added: “Government decides the average change to regulated fares, including Season tickets, each year. For a decade, successive governments have regulated commuter fares so as to increase the share of rail’s costs paid by passengers rather than taxpayers.”
Transport secretary Patrick Mcloughlin, said: “We fully recognise there's more to do to bring down the cost of rail travel in Britain.
"But we need to do it responsibly and we can't spend money we don't have," he said.