Could train fares be cut in the Budget?

Rail passengers could soon see some relief as the government is rumoured to be looking at ways of cutting the cost of train travel.

At the moment, train fares are calculated using the retail prices index (RPI) measure of inflation.

But reports suggest that the Treasury is looking at switching to the consumer prices index (CPI) instead, which tends to be lower than RPI.

What does this mean for passengers?

Basing rail fares on CPI rather than RPI inflation would mean smaller hikes in train fares for passengers.

So this could make a big difference to those who travel by train regularly and those who purchase season tickets.

We should stress that this is just speculation right now, but it’s likely that if the government goes ahead with the move, it will be announced in the Budget next week (26 Nov).

Almost half of passengers think rail fares are too high

The rumours come at a time when high train fares are putting many people off travelling by train.

Earlier this year, a poll by Campaign for Better Transport found that 44% of people are deterred from using trains because it’s too expensive.

But people are open to changing their minds, as 71% said they’d be more likely to use trains if fares were lower.

Meanwhile, 42% said they’d be tempted onto the railways if the booking experience was easier, both in person and online.

And 40% said they want to see bus and rail ticketing be more integrated.

How can I save money on train tickets?

If you’re put off travelling by train because it’s too expensive, then there are ways to find better deals.

Season ticket

If you travel regularly, you could save money by getting an annual season ticket.

Use National Rail’s season ticket calculator to find out more.

Split your journey

Two single tickets can sometimes be cheaper than a return ticket.

Check sites like TrainSplit or Split Your Ticket to cut the cost of your journey.

Get a railcard

A railcard gives you a third off ticket prices for about £30 a year.

There are options for families, retirees and students.

Book early

Try to book at least 12 weeks before travelling for the best deals.

Set alerts on Trainline for when advance tickets come up.

For no booking fees, check National Rail’s list for advance booking dates.