Government spending review could see rail fares rise by 40% over five years
Coming up on Wednesday is the government’s terrifying spending review, when we all learn just how completely screwed we’ll all be after the coalition have done their worst and implemented their ‘necessary’ cuts (we reckon there’ll be rioting in the streets before the end of 2011 but maybe we’re just a bunch of negative nellies.)
There’ll be plenty of grim news in the review that will affect us as consumers, and one particular nugget of shite has appeared already. Over the weekend, Channel 4 News reported that a change in the Government-set regulated train fares is in the offing, with price rises of between 30 and 40 per cent imminent by 2015.
Under the previous Labour government, rail companies were permitted to raise fares according to the Retail Price Index plus one per cent, but it is believed that the one per cent part of that could be raised significantly as part of the spending review, causing fares to rocket.
C4 estimate that the cost of some annual season tickets for rail travellers could go up by as much as £1,000. Although if you’re a pubic sector worker, the fact that you’ll probably be losing your job means that you can look upon it as a saving really. Sort of.
Oh shit – we’re all fucked.