Ministers have announced a freeze on regulated rail fares in England for 2026, with confirmation due in the Autumn Budget on Wednesday 26 November. HM Treasury described the decision as the first such intervention in 30 years.
According to the Treasury, the freeze will apply to season tickets, peak commuter returns and off‑peak returns between major cities, covering regulated fares set by the Secretary of State in England. Officials said the policy will affect more than a billion passenger journeys.
In England, around 45% of tickets are regulated each year by government; other fares are unregulated and set commercially by operators. Scotland and Wales determine their own caps, so any changes there follow separate ministerial decisions.
Regulated fare changes typically take effect in early March. Based on July 2025’s RPI reading and the commonly referenced RPI‑plus formula, fares had been on course to rise by about 5.8% in 2026; the freeze removes that increase.
Treasury examples indicate that a commuter travelling three days a week on a flexi‑season could save roughly £315 a year from Milton Keynes to London, £173 from Woking to London and £57 from Bradford to Leeds. Actual savings will vary by route and travel pattern.
The government has linked the measure to cost‑of‑living support and inflation control. Transport accounts for about 14% of average UK household spending, according to ONS Family Spending statistics, making fare policy a material component of household budgets.
The freeze sits alongside rail reform. On 5 November, the Department for Transport introduced the Railways Bill to establish Great British Railways as a publicly owned body responsible for passenger services and infrastructure, with plans for simpler ticketing and wider pay‑as‑you‑go coverage.
Under the current policy framework, regulated fares include most commuter season tickets, some long‑distance off‑peak returns and certain city‑region tickets. Unregulated products such as Advance and First Class remain set by operators, so not every ticket type is capped by this decision.
For commuters and employers, the announcement provides a clear baseline for 2026 travel budgeting. Organisations that peg expenses or benefits to regulated season or flexi‑season products can plan on a flat‑cash basis once the Budget confirms the freeze.
Campaign for Better Transport welcomed the move, arguing that price remains the main barrier to rail use and that freezing regulated fares will help households while reform progresses.
Next steps are straightforward: the Chancellor will present the Budget on 26 November and the Department for Transport is expected to follow with operational guidance to the industry. The Railways Bill is before Parliament; government guidance indicates GBR would come into operation around a year after Royal Assent.