Bus fare cap to increase to £3
Two days before the Budget, the Prime Minister announced that the cap for single bus fares would be increased to £3 from its current £2.
The current fare cap is due to expire at the end of 2024. Without intervention, prices for some routes looked set to rise significantly. The new £3 cap will run until the end of 2025.
The cap means that no single bus fare on routes that are included in the scheme can exceed £3. Routes where the fare is less than £3 can only increase in line with inflation.
For workers that are reliant on bus fares, the new cap means an increase in their costs but at least continues to provide some relief.
See: https://www.gov.uk/government/news/over-1-billion-to-boost-bus-services-across-the-country-as-bus-fares-capped-at-3
The government’s Electric Car Grant (ECG) is now up and running, with more vehicle models eligible for discounts. Initially launched in July, the £650 million scheme offers savings on new electric cars priced at or below £37,000. The discount is either £3,750 or £1,500, depending on the vehicle’s sustainability and is applied directly at the point of sale, with no paperwork required from customers.
The latest figures from the Office for National Statistics (ONS) indicate that the UK labour market is continuing to ease, although the slowdown remains measured rather than abrupt.
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