Prime Minister Keir Starmer has confirmed the cap on bus fares will be raised from £2 to £3 in a blow to commuters.
Ahead of this week’s Autumn Budget, the Labour leader defended the new Government’s fiscal decision-making and said “better days were ahead”.
This hike to the bus fare cap is expected to remain in place until the end of 2025.
Both the Prime Minister and the Chancellor Rachel Reeves have warned that “tough decisions” are having to be made to balance the books.
The new Labour Government has cited the £22billion “black hole” in the public finances which Reeves hopes to address with her Autumn Budget on October 30.
With this hike to the bus fare cap, the Chancellor reportedly hopes to raise £350million a year for the Treasury.
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Hiking the bus fare cap appears to be one of the Chanclleor’s “tough” Budget decisions
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