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Teaching Economics

In the News

Regulated rail fares to rise 6% - potentially pricing many off services

Graham Watson

28th December 2022

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The annual uprating of rail fares is always controversial, if only because since 2010, rail fares have gone up by 58%, or twice as fast as wages.

However, this time the 5.9% rise is being sold as not too bad, on the grounds that had the government followed the formula that exists to calculate rail fare increases, based on July's RPI figure, which was 12.3%.

And yet, the benevolence of the government extends as far as to override one independent calculation - but not others, such as independent pay review bodies. Additionally, notice that the 5.9% increase only applies to regulated fares, which only represent 45% of all rail travel in the UK.

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Graham Watson

Graham Watson has taught Economics for over twenty years. He contributes to tutor2u, reads voraciously and is interested in all aspects of Teaching and Learning.

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