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Railways: Fares

HM Treasury written question – answered on 28th November 2014.

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Photo of Lilian Greenwood Lilian Greenwood Shadow Minister (Transport)

To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 4 November 2014 to Question 213271, what the estimated cost to the Exchequer in the calendar year 2015 will be of (a) raising regulated national rail fares by the retail price index (RPI), (b) raising Transport for London rail fares by RPI and (c) removing train operators' flexibility to vary regulated fare levels within the basket of fares.

Photo of Danny Alexander Danny Alexander The Chief Secretary to the Treasury

The estimated cost to the taxpayer, to the end of March 2016, of raising regulated national rail fares by the retail price index (RPI) in January 2015 is £39m.

The estimated cost to the taxpayer, to the end of March 2016, of raising Transport for London rail fares by the retail price index (RPI) in January 2015 is £43m.

The estimated cost to the taxpayer, to the end of March 2016, of removing operators’ flexibility to vary regulated fare levels within the basket of fares in January 2015 is £14m.

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