The government says the policy will "help with the cost of living and give people the breathing space they need"
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Scooped by
Graham Watson
onto Microeconomics: IB Economics July 22, 2:41 AM
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Another cost of living measure, with the Burnham government announcing that they will restore the national price cap on bus fares to £2 from next January, meaning that the rest of the country will come into line with Liverpool and Manchester.
The scheme has certainly had a marginal effect on bus use, and had its most marked effect on low income consumers. However, questions still remain about how effective it's been, given the opportunity cost.