Railcard and train ticket prices are set to rise next year, following changes introduced in the Chancellor’s Autumn Budget. On Wednesday, Rachel Reeves outlined the Government’s future spending plans in a 77-minute address, just months after Labour’s sweeping victory in the General Election.
While rail fare changes were not disclosed in Reeves’ parliamentary speech, HM Treasury later revealed further details in a more detailed explanation of what’s to come. An executive summary stated: “The government confirms that the annual regulated rail fares cap will rise by 4.6% on 2 March 2025, one percentage point above RPI.
“This will be the lowest absolute increase in three years. Subject to an industry proposal, the government will also agree a £5 increase to the price of most rail cards (except the disabled person’s rail card). On average rail card holders save up to £158 per year.”
As outlined, these changes will impact ‘regulated’ rail fares, which may include off-peak, anytime day, super off-peak, and seasonal tickets, all under government regulation. Unregulated fares, such as many first-class, off-peak day, anytime, and advance tickets, are often set by train companies and remain unaffected for now.
Crucially, these updates only apply to England, while Scotland and Wales are expected confirm any changes in the coming weeks, according to Martin Lewis MoneySavingExpert (MSE).
Its writers have noted: “We’re yet to hear what’s happening, if anything, in Northern Ireland.”
The Government asserted that measures including both its ticket fare and the 17% increase to railcard prices will aid its ‘reform’ agenda by enhancing ‘efficiency’ and cutting costs. “These policies will support the Secretary of State for Transport’s plans for reform, which will increase efficiency and reduce costs, while boosting ridership and revenue and improving performance, laying the groundwork for the transition to Great British Railways,” the executive summary further explained.
Ticket and railcard fare increases will take place from March 2, 2025.
