The next Labour Government will put rail passengers first by putting the brakes on rapidly increasing rail fares and saving commuters £1,014 on their season tickets.
With a Labour Government, passengers will on average save £1,014 on their rail season tickets over the next parliament, compared to the potential cost under a Tory Government.
Since 2010, regulated rail fares have risen by 27.1 per cent, increasing the average cost of a season ticket by £594.
The 2015 Conservative manifesto included a commitment to keeping rail fares frozen in real terms. However, regulated fares were capped at the Retail Price Index (RPI), which consistently over-estimates inflation, rather than the Consumer Price Index (CPI).
Labour will cap regulated fair rises at the Consumer Price Index (CPI), using the money saved through bringing rail franchises back into public ownership. As more services come into public ownership, greater amounts of savings become available, and Labour will aim to introduce further fare caps or reductions.