SWINDON’S railway franchise has reiterated its belief it offers value for money for customers in light of news fares have increased three times as much as wages in five years.

Fares will also rise by one per cent from January after the announcement of July’s retail prices index (RPI) inflation figure, which helps determine regulated train fares for the next year.

July’s RPI is used to set annual regulated fare rises, such as for season tickets.

The one per cent rise will be the lowest since 2010, when fares actually decreased by 0.4 per cent. In 2015, rail fares rose by two-and-a-half per cent.

A spokesman for First Great Western, which controls trains through Swindon, said: “Since 2004 the government has sought to sustain investment in the railways by reducing the amount that taxpayers contribute and requiring passengers to pay a greater share.

“The money raised by government through fares ensures investment in more trains, better stations and faster services.

However anything that reduces the cost of price rises is good news for customers and the industry as a whole.

“Our single walk-up fares compare well with similar distance journeys on other train operators and that’s without even taking into account the great value advance and period season tickets that we offer.

“More than 40 per cent of all passengers travel from Swindon to London, for example, for less than £15.

“Across the whole industry, according to latest KPMG research, the average cost paid per passenger mile has remained largely flat in real terms since 1997 to 1998.”

The Conservatives pledged in their election manifesto regulated rail fares in England would rise by no more than inflation if they won.

In a statement yesterday, the Department for Transport claimed this would save season ticket holders £425 each by 2020.

No regulated rail fare would rise by more than one per cent in 2016.

The Action for Rail campaign, backed by the TUC and rail unions, released a study claiming season tickets and other regulated fares had increased by 25 per cent since 2010, while average pay had gone up by only nine per cent.

Following the RPI figure announcement, the passenger watchdog Transport Focus said while fares were increasing, train punctuality was going down for many.

“The poor performance in the south-east in particular highlights how Network Rail and operators need to deliver a more consistent day-to-day service which passengers can rely on,” the watchdog’s passenger director, David Sidebottom, said.