Department for Transport Tweets

[whole diary]

[grahame]

Three tweets from the DfT^» (Department for Transport - about) (@transportgovuk) in the last hour:

* 2012 regulated #rail #fares have risen by an average of inflation +1% not the planned +3%

* Revenue from #fares allows us to deliver the biggest programme of #rail investment for 100 years, including #Crossrail

* We're committed to reducing costs. McNulty's study set out efficiency savings that may help end the era of inflation busting fare increases

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[ChrisB]

I think hard-pressed customers may very well feel that if there's no improvement in the stock or line they themselves use, why should they be contributing to others comfort on lines they never use, as well as contributing as a tax-payer.....

And McNulty savings are likely to all fall in one 12 month period. Which will certainly reduce the need for one year of RPI^▸ (Revenue Protection Inspector (or Retail Price Index, depending on the context))++%, but after that RPI will be what staff costs are set at, so there'llk be huge pressure for at least RPI% each subsequent year as inflation will still affect whatever costs remain in the industry, even if McNulty savings are 50% of current costs (as if)