Price of getting buses set to increase significantly after budget

The £2 cap on bus fares will be replaced by a £3 cap from the end of the year, Keir Starmer has announced.

There had been widespread anger over reports Chancellor Rachel Reeves was not planning to renew the cap when the funding expires at the end of this year.

But the Prime Minister said following a speech today that the Budget on Wednesday would include a commitment to keep a cap on bus ticket prices – though one that was 50% higher.

The replacement cap will remain until the end of 2025, he said.

Some passengers were facing fares quadruple the price of their current tickets if the cap was not extended or replaced.

He said: ‘First thing to say is, the Tories only funded that [cap] to the end of 2024, and therefore that is the end of the funding in relation to the £2 capped fare.

‘I do know how much this matters, particularly in rural communities where there’s heavy reliance on buses.

‘And that’s why I’m able to say to you this morning that in the Budget we will announce there will be a £3 cap on bus fares to the end of ’25, because I know how important it is.’

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