Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Return train tickets set to be scrapped in UK rail shake-up

by February 6, 2023
February 6, 2023
Return train tickets set to be scrapped in UK rail shake-up

Return tickets are set to be scrapped and new digital ticketing introduced under reforms of the British rail system to be announced this week.

The two-way tickets, which offer a discounted rate, will be replaced by “single-leg pricing” which will mean that the price of two singles will be the same as the current return fare, according to the Telegraph. The idea was trialled by London North East Railway (LNER) in 2020.

The new fares are expected be revealed by the transport secretary, Mark Harper, in a speech on Tuesday in which he will outline plans for “Great British Railways” (GBR), a new public body that will bring the operation of track and trains under the same roof and oversee timetables and ticketing.

Harper is expected to raise the prospect of better use of technology, as well as the new pricing strategy, to simplify the rail ticketing system, potentially leading to the use of smartcards, similar to London’s Oyster Card system, across the UK.

The idea was first presented by Boris Johnson and Grant Shapps in May 2021, but has yet to be realised amid turmoil in government and Conservative party fears of “nationalisation by the backdoor”.

It was first proposed by Keith Williams, the ex-chief executive of British Airways and chair of Royal Mail, who envisaged a “guiding mind” for the industry that he likened to the “Fat Controller” – the character from Thomas the Tank Engine children’s books.

His review of the rail system came after the 2018 timetable debacle that sparked chaos and cancellations. Williams judged that fares were a mess, costs too high, the industry fragmented, and the objectives of Network Rail – which oversees tracks – and operators – who handle trains – were opposed rather than unified.

He also found that the current franchise system was not fit for purpose. With Southeastern, Northern and LNER now run by the government’s own operator of last resort, an overhaul has almost been completed by default.

The new effort to drive change comes as the government faces criticisms for its failure to resolve months of strikes on the railways that have affected commuters and leisure travellers alike.

Inflation, and the pay battles that has triggered, have meanwhile compounded the financial battering from Covid, which hit an already struggling system. Changes in commuting as a result of the shift to working from home have left operators with a £2bn annual fares shortfall.

The collapse in passenger revenue has all but ended franchising. Emergency contracts for train operators have kept the industry afloat, but critics say a more long-term solution is required.

Read more:
Return train tickets set to be scrapped in UK rail shake-up

0
FacebookTwitterGoogle +Pinterest
previous post
BMW in negotiations for £75M from government to retain electric Mini production in Oxford
next post
UK apprenticeship levy is a £3.5bn mistake, say business leaders

You may also like

How to Save Money on your Mortgage in...

February 9, 2023

Nationwide Building Society Announces Third Round of Job...

February 24, 2024

Tony Danker launches ‘Growth Incorporated’ following CBI departure...

February 12, 2024

£1m paid to Octopus Energy customers as part...

January 26, 2023

Keir Starmer keeps quiet on Trump’s EU trade...

February 4, 2025

Secrets of Success: Catherine Storey, CEO of Freshbat

August 1, 2024

UK SMEs set to increase IT investment in...

May 31, 2023

Mid-sized Businesses Face Uphill Battle Amidst Soaring Costs...

February 26, 2024

Royal Mail urges people to use or swap...

December 23, 2022

Soft2Bet: Pioneering Innovation and Expansion in the iGaming...

May 17, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Unmasking Medicaid Money-Laundering Schemes: Medicaid Financing Gimmicks 101

      June 27, 2025
    • Top moments from the Trump-Biden debate that changed the course of the 2024 election

      June 27, 2025
    • Trump exerted ‘maximum pressure’ on Iran and Israel to ‘deliver peace’: Leavitt

      June 27, 2025
    • Iranian foreign minister reiterates ‘serious damage’ to nuclear facilities, despite ayatollah’s comments

      June 27, 2025
    • Maybe Most People Do Not Want Teacher-Led Public School Prayer—But They Do Want Chaplains

      June 27, 2025
    • Flashback: The debate night against Trump that threw Biden’s reelection campaign into a free fall

      June 27, 2025

    Categories

    • Business (8,329)
    • Investing (2,076)
    • Politics (15,829)
    • Stocks (3,173)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved