BY DAVE BURKE Political Correspondent MILLIONS of passengers could face huge bus fare hikes if Rachel Reeves scraps the nationwide £2 cap as expected on Wednesday.
The Chancellor claims axing the cost of living lifeline will save the Treasury £350million a year.
But in the worst hit places that would result in a rise of more than £10 a trip. Leaked research at the weekend suggests every £1 spent on keeping fares low generates between 71p and 90p in social and economic benefits. This means it is "not financially sustainable" for taxpayers or bus firms, analysis for the Department for Transport found.
This story is from the October 28, 2024 edition of Daily Mirror UK.
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This story is from the October 28, 2024 edition of Daily Mirror UK.
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