To ask Her Majesty's Government what assessment they have made of (1) the effect on train operating companies' revenues of increasing the cost of regulated rail fares, and (2) whether, since the ending of travel restrictions introduced during the COVID-19 pandemic, (a) rail companies have introduced more unregulated fairs, and (b) customers have purchased more unregulated fairs.
Fares revenue fell drastically during the pandemic compared with pre-pandemic levels and is yet to recover. Fare rises help fund crucial investment in maintaining railway services and support our economic recovery.
No assessment has been made on the regulated fares for 2022 and a range of options around the timing and level of the increase are being considered. We will confirm these arrangements in due course.
In a major enhancement to their product range train operating companies have introduced flexi season tickets and continue to keep their range of unregulated fares under review. No assessment has been made of how sales of unregulated fares have changed since the ending of travel restrictions.