First Great Western starts a review of rail fares after Osborne statement (From Bicester Advertiser)
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First Great Western starts a review of rail fares after Osborne statement
8:30am Thursday 12th December 2013 in News
OXFORDSHIRE’S main train company has said it will be reviewing its ticket prices following the Chancellor’s autumn statement.
First Great Western has started the process of re-setting the fares that will apply from January.
Last week, George Osborne announced he was putting an end to above inflation rail fare rises on regulated routes, including on season tickets.
This means the price commuters pay for train tickets will stay flat in real terms – going up only with inflation.
First Great Western managing director Mark Hopwood said: “We welcome the Government's decision to peg regulated fares to inflation, which will also be appreciated by our customers.
“A consequence of the announcement is that all of our fares for travel after January 2, 2014 now have to be recalculated, checked and inputted into the industry fares systems in much less time than it would normally take.
“We will be working around the clock to make that happen.”
The new fares are due to be announced later this month.
In the meantime, tickets purchased for travel after January 2 will continue to be available at current prices.
Dominic Utton, a freelance journalist from Osney Island, Oxford, commutes to London every day.
The 41-year-old welcomed the review but said: “The problem is the service has not got any better.
“You put the prices up if the service gets better.
“But if the service hasn’t it is crazy to put them up.
“It takes a massive amount of your salary if you live in Oxford and commute to London – about £4,000 a year.”
Mr Utton added: “It is good that they are reviewing it.”
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