Rail fare increases for 2023 will be capped at 5.9%, despite the established inflation-linked uplift formula suggesting the rise would be over 12 percent.
It is the biggest ever government intervention to restrict the annual rise, and will help reduce the impact of high inflation for passengers whilst still necessary to support crucial investment and the financial stability of the railway, the Government says.
The increase is 6.4 percentage points lower than the 12.3% July RPI figure on which...
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