Train fares set for sharpest price increase since 2013
Train fares across England and Wales are set to rise 3.8 percent today, which is the biggest increase in train fares since 2013. When linked to the retail price index, the typical season ticket cost is expected to rise by nearly £120, to £3,263.
This means the cost of a seasonal ticket is £1,069 higher (49 percent) than they were in 2010, which means their cost has risen nearly twice as fast as wages have in the same period.
An analysis from the Labour Party also found the highest increase in cash terms since 2010 was for a season ticket between Birmingham and London Euston, which has risen £3,901 to £11,929.
The Campaign for Better Transport consumer group found the average full-time worker commuting from Brighton to London would have to work seven weeks to earn enough money to pay for their annual season ticket, which is now costing £5,302, up £194 compared with last year.
Jamie Mackenzie, Director at Sodexo Engage, comments: “With many UK companies operating a hybrid work model, a lot of employees are now making the journey into the office once or twice a week. However, amid the current cost of living crisis, commuters will now have increased train fares to contend with. Travelling to and from the office was already a large expense for a lot of employees, especially for Londoners who on average spend 14% of their salary on their commute, but this 3.8% rise is only going to make things worse.
“There are options available to employers looking to support their commuting staff during this financially challenging period. One example is including a railcard in their benefits package, or helping employees manage the cost of a season ticket through salary sacrifice. Alternatively, employers could be more flexible with working hours, perhaps letting employees start later to avoid travelling during peak hours.”