Government to cap rail fare rise in 2012
LONDON (Reuters) – The government will trim a plan to raise rail fares by as much as eight percent next year to offer some relief to commuters from rising costs at a time of economic uncertainty, a Treasury source said Saturday. Chancellor George Osborne will announce the change as part of his autumn budget statement next Tuesday when Britain’s fiscal watchdog is expected to slash its economic growth forecasts. Rises in regulated fares – season tickets and peak travel fares – would be capped at 6 percent for 2012, at a cost of 300 million pounds, the source said. …