Bus passengers to face 50% fare hike as £2 cap scrapped in Budget

Passengers hit in the pocket before Christmas

Bus passengers will see fares increase by up to 50% as plans to scrap the £2 fare cap were confirmed in the Budget. The Chancellor announced that fares will now jump to a new £3 limit, impacting people just before the holiday season.

£2 cap kept fares down for millions

The existing £2 cap, introduced to help with the cost of living, has kept fares affordable for millions of passengers. However, the cap is set to be increased to £3 until December 2025, as announced by Rachel Reeves in the Budget.

Tory government's funding for £2 cap to end

Prime Minister also mentioned that the funding for the £2 cap will end by 2024, leading to the decision to raise the cap to £3 by the end of 2025. The move was criticized by some, with Tory leadership hopeful Robert Jenrick calling it "clueless" and the Lib Dems labeling it as "a bus tax."