Passengers could see fare savings of up to £4,000 a year
REGULAR rail travellers between Birmingham and London could save £4,010-a-year under Labour’s plans to slash rail fares by a third.
That’s how much the cost of an annual season ticket would fall, with the price dropping from £11,204-a-year to £7,194.
The figures refer to Virgin train services, and compare the price currently planned for 2020 with the price Labour says it would introduce next year if it wins power.
Other fares across the West Midlands would also fall, and a Labour government would make the fares system simpler to ensure that commuters get the cheapest tickets.
Around four in ten fares are regulated, which means the Government sets a limit on how much they can rise, but Britain’s train companies confirmed that they will hike prices by an average of 2.7% next year.
Labour estimates its policy would save the average commuter more than £1,000 a year.
The new announcement comes on top of Labour’s longstanding plan train services expire.
Shadow transport secretary Andy McDonald said: “Privatisation has created one of the most complex, exploitative and expensive ticketing systems in to as re-nationalise existing franchises the world. Labour will scrap the bewildering and outdated fares and ticketing system that discriminates against part-time workers, discourages rail travel and excludes the young and low paid.
“Labour is on the side of passengers which is why we will introduce a simpler, fairer and more affordable system for all, integrated with other forms of public transport.”
The Conservatives, meanwhile, say they will provide funding for a major upgrade of the Midlands Metro, extending the service to Solihull and Birmingham Airport.
Transport Secretary Grant Shapps said the Government was ready to give the go ahead to the latest Metro project, which West Midlands Mayor Andy Street is backing.