Overview

This bill mandates that train companies in England, Wales, and Scotland must offer customers the cheapest available fare as the default option when booking tickets. Failure to comply will result in penalties and refunds for affected passengers. The Office of Rail Regulation will monitor compliance.

Description

The Train Companies (Minimum Fares) Bill requires the Secretary of State to create regulations ensuring train companies prioritize the cheapest fare. These regulations will:

• Define "cheapest available fare".
• Guarantee refunds to passengers if the cheapest fare isn't offered initially.
• Establish penalties for non-compliance by train companies.
• Require the Office of Rail Regulation to monitor and report annually on the Act's effectiveness.

The regulations will be subject to parliamentary approval before implementation. The Act will come into force two months after its passage and applies to England, Wales, and Scotland.

Government Spending

The bill's impact on government spending is not directly specified. However, there may be costs associated with the Office of Rail Regulation's monitoring and enforcement activities, and potential costs relating to refunds to passengers. No figures are provided in the bill itself.

Groups Affected

• Train Passengers: Will benefit from potentially lower fares and increased transparency in pricing.
• Train Companies: Will face new regulatory requirements, potential costs associated with refunds, and penalties for non-compliance.
• Office of Rail Regulation: Will be responsible for monitoring compliance and reporting, incurring associated costs.

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