RPI + 3% formula to be applied nationwide from 2012...?

[whole diary]

[inspector_blakey]

Apologies if this is old news - it's the first I've heard about it, anway.

The following report from Railway Eye detailing a statement made by Theresa Villiers to the House last Thursday - it's justified apparently to remove the "perceived inequality" of passengers using Southeastern already experiencing these increases.

http://railwayeye.blogspot.com/2010/11/villiers-vignettes-fares-increase.html

I hold Btline personally responsible for this...I reckon she read this thread

[ChrisB]

It's a way to make the users pay more of the cost of the railways, rather than the UK^▸ (United Kingdom) taxpayers....and saves money that the Government don't currently have.

An argument was won for 2011 that there wouldn't be sufficient time to implement new rules, so 2012 it is.

I understand, but await final confirmation, that the baskets are back too. So look out for some RPI^▸ (Revenue Protection Inspector, or Retail Price Index, depending on context)+1%+5% fares in January 2012. Ouch!

[paul7575]

Except that the thread linked above is about the HS1^▸ (High Speed line 1 - St Pancras to Channel Tunnel) supplements (at the time of the trial services) and the intended fares for HS1 through services.

It was Southeastern's 'ordinary fares' that were subject to an RPI^▸ (Revenue Protection Inspector, or Retail Price Index, depending on context) + 3% escalator for 5 years already, to pay for their existing stock improvements - away from HS1. This was supposed to finish by 2010 or 2011 (depending what you read), and as described in their franchise specs was NOT to pay for HS1 domestic services, even though this is what is generally claimed in the media...

Paul

[super tm]

I had heard the basket of fares approach will be making a comeback in Jan 2011

[ChrisB]

Sorry, I meant Jan 2011.

In Jan 2012, it currently will be RPI^▸ (Revenue Protection Inspector, or Retail Price Index, depending on context)+3%+5% maximum!