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As a response to the cost-of-living crisis, the government approved a 5.9% rise in rail fares from 5 March 2023, which was 6.4 percentage points below the RPI inflation rate in July 2022 which is normally used to calculate fare increases. [46] In July 2023, the government announced plans to close the majority of ticket offices.
This option was adopted, with an estimated cost of £2.1 billion to which Olympia and York would make a £400 million contribution, the original cost estimate of the Waterloo and Greenwich Railway. [6] In the end it cost £3.5bn, partly because of huge cost overruns during construction.
However, in November 2021 the Integrated Rail Plan for the North and Midlands was published which removed all of the new line in Yorkshire, from the plan. [ 10 ] : 7 In March 2015, the Chancellor George Osborne announced there would be an additional rolling programme of improvement and electrification to Hull .
The work between Dawlish and Holcombe began in July 2023 and saw Network Rail install protection measures to catch any loose material. In total, the project cost £37m, which was funded by the ...
Train fares cost 2.7% more than under British Rail in real terms on average. [17] However, while the price of anytime and off-peak tickets has increased, the price of Advance tickets has dramatically decreased in real terms: the average Advance ticket in 1995 cost £9.14 (in 2014 prices) compared to £5.17 in 2014.
Revised proposals, released in July 2019, were reduced in scope from the plan considered in the 2016 GRIP 2 study and proposed a four-phase project [31] to reduce the initial cost; the first phase, at an estimated £90 million, [28] was to introduce an hourly passenger service [26] to serve new or reopened stations at Northumberland Park ...
The latest Treasury estimates show that the cost of Britain’s settlement with the EU stands at approximately £30.2bn in total. This is separate from any estimates of lost money from separating ...
Railway electrification in the UK has been a stop-start or boom-bust cycle since electrification began. The initial boom was under the 1955 modernisation plan. There was a flurry of activity in the 1980s and early 1990s but this came to a halt in the run up to privatisation and then continued in the 2000s, and also the Great Recession intervened.