Driving revenue recovery
Today, there’s a £4bn+ gap in rail ticket revenues. To have any chance of closing that gap, the rail industry must urgently reform and become customer-focused in everything it does.
It must revolutionise fares and ticketing, so that these are no longer seen by customers as complex, unfair and expensive, but are instead seen as simple, easy to understand and good value for money.
As well as selling tickets directly, the industry must also work with partners, such as independent ticket retailers, which are a cost-effective way of achieving growth through private sector investment, which is called for in the Williams-Shapps Plan.
Whilst cost control and reduction are undoubtedly important, they are not going to deliver enough savings to reduce current levels of rail subsidy. The way forward must mostly be through revenue growth. Given the likely long term change in commuting habits, this will need customers new to rail to be attracted and retained. All independent rail retailers are ready to work in partnership with the rail industry to achieve this - and to finally deliver a great British railway.
Find out more about how we will drive the rail revenue recovery by taking a look at our publication “Britain’s rail growth partners”.