Why is UK Transport So Expensive?

One thing that most people can recently agree on is the high transport prices across the UK. Despite measures being put in place in various parts of the country, transport is still very much on the expensive side. With ticket prices soaring and transportation means being cut, the changes do not seem to be moving in the right direction. For many families and individuals, public transportation is the only way to travel. However, with increasing prices and route changes, the concept is becoming much more difficult to navigate and afford, especially with the rise in inflation and the cost of living crisis. As something that was once a cheaper alternative to driving, the prices for travelling around the UK are definitely on the rise. But why is this the case and is there a reason for the high prices?

Private Companies

Whether you are taking the train, the tram, or perhaps a bus, it is likely that you’ll encounter some sort of private transport company while travelling around the UK. Despite the exceptions of Northern Ireland and London, most of the UK’s transport is actually privately owned. Therefore, these companies can charge whatever they choose to get customers from one location to another. In London, schemes have been put in place to ensure prices are kept relatively low. The area has previously introduced a ‘Hopper Fare’ which offers an unlimited number of journeys for £1.75 that have been made within one hour of touching in. This way, individuals on the move can get to new places without paying painfully high fees. However, outside of the London area, these schemes are definitely not as common as they possibly should be.

Trains in the UK

Trains around the UK are currently a popular subject in the news, and this isn’t a good thing. With the industrial action happening and the train strikes in action, customers are not happy. Although the economy is constantly changing, studies show that train prices have increased much faster than inflation rates. Therefore, proving that private companies are increasing prices is still a noticeable problem within the industry. According to National Rail, in March 2023, fares rose by 5.9%. As previously mentioned, many families and individuals rely on public transportation to get around, however, a 5.9% rise could easily push individuals into unwanted debt. Going over budget and struggling with debt can be an extremely difficult process. However, BingoLoans can help with your financial emergencies. Click here for more information regarding payday loans.

Alternatives To Transport

At the moment, public transportation is proving a little more unreliable and expensive than usual. Luckily, there are many alternatives that you could use to point you in the right direction towards healthy finances. If you are somebody who uses public transport to travel for short durations, these concepts will prove much simpler; however, they may not appeal to those travelling further distances. Firstly, if you think about all those times you’ve hopped on public transport for perhaps one stop on the bus, or a few stops on the tram, they’ll soon add up. However, if you consider the price it has cost you to do so, you’ll soon wish that you considered walking or cycling instead. With all of the recent technological advances, small purchases are so easy to make. But, this doesn’t mean they are the right choice.

Maybe it is time to save your money and start searching for alternatives instead of splashing the cash unnecessarily.