I too would go for your option 2, ellendune.
With the caveat that the re-pricing necessary to iron out the split ticketing anomalies on relevant flows is done over a very long period of time so as not to see huge increases on one side of a split.
A truly independent (of both Govt. and industry) analysis and report would be needed.
Absolutely agree. We need an independant analysis which produces a simplified and fair set of fares. We then set out the criteria for fares to converge on the agreed fares over perhaps as long as ten years.
It seems to me pointless to allow
TOCs▸ to set their own fares (expect perhaps cheap fares below the nationally agreed fares) They have demonstrated that they cannot be trusted to do this honestly and fairly and this privilege should be withdrawn from them