§ Mr. Malcolm BruceTo ask the Secretary of State for Transport what is his estimate of the annual revenue loss which would result from a 1 per cent. general reduction in United Kingdom rail fares assuming constant ticket demand; and what estimate he has made of the price elasticity of demand for United Kingdom rail travel. [28315]
§ Mr. WattsIn 1993–94, passenger receipts were £2,165.8 million. In that year, a 1 per cent. reduction in rail fares at a constant level of demand would therefore cost £21.7 million. The Department does not prepare estimates of price elasticity of demand for rail travel.