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| Rail fares are to rise by average of 2.8% | Rail fares are to rise by average of 2.8% |
| (35 minutes later) | |
| Rail fares will rise by an average of 2.8% from 2 January, a rail industry group has said. | Rail fares will rise by an average of 2.8% from 2 January, a rail industry group has said. |
| The increase, which is the smallest in four years, comes after the Chancellor said new fares should be kept in line with July's RPI inflation rate of 3.1%. | |
| For journeys inside London, new fares will take effect on 19 January, the Rail Delivery Group said. | For journeys inside London, new fares will take effect on 19 January, the Rail Delivery Group said. |
| First Great Western, the first operator to announce its new prices, said they would rise with inflation at 3.1%. | First Great Western, the first operator to announce its new prices, said they would rise with inflation at 3.1%. |
| Mark Hopwood, managing director of First Great Western, said: "The money raised by Government through fares ensures investment in more trains, better stations and faster services, however anything that reduces the cost of price rises is good news for customers and the industry as a whole." | |
| 'Thousands of projects' | |
| The Rail Delivery Group, which represents the rail industry, said it "strongly supported" the real term price freeze announced by Mr Osborne in his Autumn Statement on 5 December. | |
| "Nobody likes paying more to travel by train, particularly to go to work, but billions are being spent to serve passengers better," the group's statement said. | |
| "While major projects like the new King's Cross or Birmingham New Street stations are plain for all to see, work has also been proceeding with thousands of smaller, less visible schemes to improve tracks, signals and tunnels." | |
| The chancellor announced in December that rail prices would increase in line with July's RPI inflation measure, rather than RPI plus 1%. | |
| Train companies have to ensure average prices rise by 2.8%, so individual fares can rise by more or less than that. |