Thursday 31 January 2019 / 9:46 AM Jeremy Corbyn / Transport

Bus fares set to soar as private companies rake in billions – Jeremy Corbyn

New analysis from Labour reveals how bus fares are set to soar over the next few years, while at the same time private companies operating on bus routes are raking in billions of pounds.

The analysis comes as Labour Leader Jeremy Corbyn is set to meet today with residents and community leaders in Derbyshire to discuss their concerns over cuts to bus services.

Official Government statistics reveal that since 2010, fares have risen faster than wages while passenger numbers have plummeted. The new research reveals the state of the bus services commuters are set to face in 2022:

· Average fares are set to be 53 per cent higher in 2022 than in 2010 in real terms

· Bus passenger numbers are on course to be over 10 per cent lower than they were when the Tories came to power. Elderly and disabled passenger numbers are set to fall by nearly 20 per cent.

· This comes at a time of growing profits for private bus companies. English bus operators have made a total of £3.3 billion in profit since 2009/10.

Labour analysis published earlier this week revealed that bus routes across the country are also projected to fall by over 5,000 by 2022.

Labour has plans to fix our broken bus industry by creating the freedom for local authorities to form their own bus companies by removing the Conservative Government’s ban and extending the powers to re-regulate local bus services to all areas that want them.

Labour are also committed to protecting free bus passes for pensioners, improving disabled access to services and introducing a new free bus pass for under 25s.

Jeremy Corbyn, Leader of the Labour Party, speaking ahead of his visit to Derbyshire, said:

“The Tories said privatisation would improve our buses but private bus companies are running bus services into the ground, while raking in billions of pounds in profit.

“Passengers now face a toxic mix of rising fares, cuts to services and reduced access.

“Labour will act in the interests of the many by protecting pensioners’ bus passes and introducing a new free pass for under 25s.

“For too long the bus industry has put profit for a few before millions of passengers. A future Labour Government will change that.”