Rail fares are set to rise by 3.4% from the 2nd January, it has been confirmed.
The Rail Industry says the fare will apply to regulated and unregulated tickets, including off-peak fares and season passes.
The rate of increase has already been capped by the 3.6% rate of inflation announced earlier this year.
The Rail Industry body says 97% of the money will be re-invested in improving the railways
Paul Plummer, chief executive of the Rail Delivery Group which brings together train companies and Network Rail to enable a better railway, said:
“Government controls increases to almost half of fares, including season tickets, with the rest heavily influenced by the payments train companies make to government. Alongside investment from the public and private sectors, money from fares is underpinning the partnership railway’s long-term plan to change and improve. Working together, our plan will secure £85bn of additional economic benefits while enabling further investment and improved journeys for customers, better connections to boost local communities and a bright future for our employees."
Rail companies are working together to deliver more than £50billion of improvements, including private sector investment of £11.6billion on 5,700 new train carriages by 2021.
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