"Rail fares in England will not be increased in 2026, the government has announced, surprising passengers with the first fare freeze in 30 years. The chancellor, Rachel Reeves, will confirm a freeze on fares in this week's budget, a move designed to limit inflation, ease the cost of living and support economic growth. Reeves and the prime minister, Keir Starmer, are hoping that measures such as freezing train fares and a package of support for energy bills will help mitigate the political fallout of several expected tax increases."
"Reeves will set out on Wednesday which taxes she has decided to increase as she looks to eliminate an estimated 20bn hole in the government's finances. She is expected to raise about 7.5bn by freezing income tax thresholds and several additional billions with a host of smaller revenue-raisers, such as eliminating tax benefits on salary sacrifice pensions and taxing electric vehicles."
Rail fares in England will be frozen in 2026, marking the first fare freeze in 30 years. Chancellor Rachel Reeves will confirm the freeze in the budget to limit inflation, ease the cost of living and support economic growth. Reeves and Prime Minister Keir Starmer hope the fare freeze and an energy bill support package will help offset political fallout from planned tax rises. Reeves will announce tax increases to close an estimated 20bn fiscal hole, including freezing income tax thresholds (raising about 7.5bn) and smaller measures such as ending tax benefits on salary-sacrifice pensions and taxing electric vehicles. Ministers expect mixed voter reactions while seeking market and consumer approval.
Read at www.theguardian.com
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