Labour reckons it can save commuters £1,000 over five years with a tighter cap rail fares

Mark Sands
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South Coast Commuters Travel In To London On The Second Three-Day Southern Rail Strike
The UK will head to the polls on 8 June. (Source: Getty)

Labour has promised to go further on regulating train fares, capping maximum fare increases to the consumer price index.

In 2015, the Conservatives vowed to link increases to the faster-rising retail price index, while Theresa May's Tories have only committed to "removing complexity and perverse pricing" ahead of next week's election.

Labour claims that it can fund the pledge through cash saved through bringing rail franchises back into public ownership.

The party estimates it will save passengers an estimated £200 a year by 2022, or £1,000 through the next parliament.

Read More: Labour’s manifesto policies would turn the UK into an economic basket case

Labour leader Jeremy Corbyn's manifesto promised to bring franchises into "as franchises expire" or "with franchise reviews or break clauses".

Shadow transport secretary Andy McDonald said: “Theresa May’s failure to commit to freezing rail fares shows just how out of touch they are.

“Under the Conservatives, fares have risen three times faster than wages, passenger satisfaction is plummeting, punctuality has fallen to a 10 year low and promised upgrades have either been delayed by years or scrapped altogether."

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