Rail fares increase twice as fast as wages
The next increase in rail fares will be set this morning, sparking anger from commuters over the cost of travel on “overcrowded” trains.
According to research by the TUC and Action for Rail fares have risen 25 percent in the past six years alone, and have increased at double the speed of wages.
The governments sets a cap for regulated train fares, which make up around half of the trains in the UK, and will not rise by more than the RPI rate for the duration of this parliament. June’s RPI rate was 1.6 percent, and today’s increase will take into account July’s figure, released at 0930.
TUC general secretary Frances O’Grady said, “fares go up while trains remain overcrowded, stations are unstaffed, and rail companies cut the guards who ensure journeys run smoothly and safely.”
Wages set to decrease in the wake of Brexit
Reducing immigration in the wake of Brexit could have a serious impact on low-paying sectors of the economy, according to research by the Resolution Foundation.
Sectors such as food manufacturing and domestic personnel, where over 30 percent of the workers are migrants, will have to adjust their business models if immigration is curbed or risk losing money.