Rail fare rises to push more people in to the '5K commute club'
Rail fares in the UK are expected to go up by an average of 3.4% from January 2018. This represents the biggest rise for five years and will push more passengers into the '£5K commuter club' - those paying at least £5K for their annual season ticket.
This will mean more towns and cities in the Home Counties will join the ever growing club for those commuting into London. Towns such as Colchester, Oxford and Hastings will join the club that already includes Milton Keynes, Portsmouth, Southsea and many others.
The bank-breaking cost of commuting from Home Counties into London is further highlighted when you consider that £5K is the net figure after taxation. In reality you are losing a greater chunk of your headline gross salary when you handover £5K to the rail companies.
Passenger groups have expressed their frustration at yet another inflation busting rise in fares that they say will hurt the already suffering commuters who have seen their wages remain stagnant for years.
It's not surprising then to see research showing that almost half of the UK population would quit their commute for a similar job closer to home. Something for us all to ponder while we enjoy our turkey over Christmas.