Chancellor Announces Rail Fare Freeze Over Liverpool Street Tannoy

Commuters arriving at London Liverpool Street station were greeted by an unexpected announcement today as Chancellor Rachel Reeves used the station’s tannoy system to unveil a nationwide rail fare freeze.

In a message broadcast periodically throughout Monday morning, Reeves began: “Testing, testing. Attention, please,” before confirming that regulated rail fares would be frozen — the first such pause in 30 years.

“This government is making sure passengers aren’t asked to spend a penny more on regulated fares, including season tickets and peak and off-peak returns,” she said.

“Passengers could save over £300 a year on the more expensive routes, helping make your daily commute more budget friendly. Thank you very much.”

Before the announcement, rail fares had been expected to rise by 5.8%. Ministers say the freeze will save passengers around £600M over the next year and benefit more than one billion journeys annually.

Liverpool Street, frequently ranked as the UK’s busiest station, saw 98 million entries and exits between April 2024 and March 2025, according to the Office of Rail and Road.

The figures have been boosted by the Elizabeth Line, which has significantly increased footfall at the station.

The announcement comes as Network Rail progresses plans to redevelop Liverpool Street following the recent granting of planning permission by the City of London Corporation.

In a statement, Reeves said the freeze was part of the government’s wider economic strategy.

“Our economic plan is the right one. By cutting the cost of living, cutting national debt, and creating the conditions for growth and investment in all parts of the country we are building a stronger, more secure economy.”

Prime Minister Sir Keir Starmer added that the move would “put more money in working people’s pockets” and help put “train travel back into the service of passengers, not profits.”