Thames Valley wins fares appeal
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AN APPEAL by the Thames Valley and Aldershot Omnibus Co Ltd against the decision of the South Eastern Traffic Commissioners to restrict fare increases to no more than 2p and to retain the existing 3p fare was allowed by the Secretary of State for the Environment, last week.
The application for increases In fares was heard in September last year. It was the second application in six months and it had been made necessary principally because of the payment of threshold agreements so that an expected loss of £31,000 in 1974 had become a loss of C713,424.
In a full year, a surplus would result hut this would represent only a 71/2 per cent return on capital; not enough to service capital employed; replace assets, meet taxation and contribute to the NBC's interest payment.
The Traffic Commissioners thought that the fares asked for represented heavy increases, and they commented on unreliable services.
In allowing the appeal, the Minister said that there was no evidence that any alternative to higher fares had been left unexamined.