Two days before the Budget, the Prime Minister announced that the cap for single bus fares would be increased to £3 from its current £2.
The current fare cap is due to expire at the end of 2024. Without intervention, prices for some routes looked set to rise significantly. The new £3 cap will run until the end of 2025.
The cap means that no single bus fare on routes that are included in the scheme can exceed £3. Routes where the fare is less than £3 can only increase in line with inflation.
For workers that are reliant on bus fares, the new cap means an increase in their costs but at least continues to provide some relief.
See: https://www.gov.uk/government/news/over-1-billion-to-boost-bus-services-across-the-country-as-bus-fares-capped-at-3
UK businesses are increasingly worried about rising operating costs, with concern over both energy and fuel prices reaching their highest levels since the Office for National Statistics (ONS) began tracking them.
Small UK companies are being asked to develop security ideas and products for Britain’s transport sector with an unusually tight deadline. As the geopolitical situation becomes increasingly dangerous, with sabotage to the UK’s physical and cyber infrastructure by countries such as Russia and Iran increasing daily, new security projects are topping the government’s ‘hopeful’ list.
