Jeremy Corbyn was today accused of a £ 460 “con” is Hundreds of thousands of commuters with her can promise to slash the cost of season tickets.
Labor Pledge That rail passengers would be £ 1,000 “better off” if Mr Corbyn gained the keys to No10.
But the fine detail of Labor’s fares policy show it had “assumed” That the Tories, if they won power again, would revert to a Previously abandoned formula for setting regulated prices Ticketmaster.
Currently, regulated fares – Which include commuter and season tickets – go up in line with RPI Inflation.
But Labor’s Calculations were based on a formula of RPI plus one per cent – Which was Used Up Until 2013 When it was ditched amid growing anger from rail passengers at fast-rising fares for services often overcrowded.
The Labor Analysis Suggested That the cost of an average season ticket, of £ 2.919 in 2018 would rise to £ 3.448 by 2022 – a difference of £ 1,014 over the five years – and a saving of £ 349 in the final year.
But I, the Tories insisted That they would stick to the Existing Formula.
That is, If used, the same season ticket would rise from £ 2.919 to £ 3.286 – a difference of £ 551 over the Parliament.
So Labor’s PROMISE appeares to be over-inflated by £ 463, if the same formula was kept Until 2,022th
Transport Secretary Chris Grayling said: “These dodgy sums are an attempt to con Corbyn by commuters.
“Our policy has not changed and we REMAIN Committed to the Five Year Freeze is regulated fares we put in place in 2015.
“Once again, Jeremy Corbyn simply has not done his sums.”
But I, the Labor defended its Decision to use the higher figure to Calculate Future fare rises.
A Party Spokesman said: “The Tories have not been honest with the public, the only numbers on their manifesto are in the page number.
“Under our plans, commuters would still save money.”
But I, at least one of the Independent Expert Challenges Labor over the Basis of Which it had made the PROMISE Which would have raised the hopes of Hundreds of thousands of commuters That they could is such a large cut in the cost of for their travel.
Julian Jessop, chief economist at the Institute of Economic Affairs, said; “Labor’s Calculations assume That the Tories revert to the previous formula of RPI + first It is up to the Labor to the Explain why they think the Tories would do this.
“It is certainly not in the Conservative manifesto and I am not aware of any other Policy Statement That suggests this is Tory policy.”
Labor has also pledge to renationalise the Railways but has refused to say how this would be Funded.
The row over fare cuts is likely to raise further questions over Whether a Labor government would be a good steward of the economy if Mr Corbyn gains power.
The Institute for Fiscal Studies has Suggested There is a £ 9 billion black hole in his economic plans.
But I, Theresa May has been hampered in her attack on Labor’s economic policies by her Refused to Publish figures for his manifesto, Including at what level she would set a cap on social care spending for INDIVIDUALI and how many Pensioners will lose the winter fuel allowance.?