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What is this ‘three pence’?

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While fares for travellers soar, accounts show that Britain’s rail bosses are enjoying huge remuneration packages, the Daily Mail reported.

[Rail fat cats’ happy new year: Bosses line up multi-million pound pay deals as passengers face inflation-busting fare rises, delayed trains and strike misery, Richard Marsden And James Salmon For The Daily Mail, Published: 22:21, 31 December 2017 | Updated: 12:21, 1 January 2018]

[…] A Daily Mail investigation reveals some executives could earn as much as £5.4 million despite a year plagued by engineering works, poor service and the worst strike disruption in decades.

[This month] passengers will be hit by an average fare increase of 3.4 per cent – the biggest in five years. It will add hundreds of pounds to the cost of some season tickets.
The Department for Transport said 97p of every £1 in fares is reinvested back into the railway.

“97p of every £1 in fares is reinvested back into the railway.”

That statement originated at the ‘Rail Delivery Group’. But what does it mean?

And what is the 3p?

If the 3p ‘taken out’ is ‘profits of train operating companies’, then why should the profits of upstream entities — such as rolling stock lessors, or Network Rail contractors — be counted as ‘reinvestment back into the railway’?

twitter, @Conservatives, '97p of every £1 in fares is reinvested back into the railway'

Written by beleben

January 2, 2018 at 10:26 am

Posted in Politics, Railways

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