THURROCK Independents have written to FirstBus about the dramatic increase in their fares for certain residents in Thurrock.
Cllr Jack Duffin wrote to FirstBus: “I am writing to you as the ward Councillor for Stanford East and Corringham Town regarding your decision to raise the price of student bus passes within my ward.
“This increase from £45 to £60 represents a 33% increase. This increase will place significant financial pressure on many residents within my ward, particularly those on a low income. I understand that the increase has been applied as a result of the area being redesignated from the Thurrock to the Basildon zone.
“Firstly, I would be grateful if FirstBus could provide me with the exact rationale behind this decision. Secondly, I ask that you look at this decision again as a matter of urgency and consider reversing it immediately.
“It is no exaggeration to state that this increase will result in genuine financial hardship for many families in my ward. I would ask that FirstBus consider this reality very carefully when reconsidering the decision to impose this increase.”
Thurrock Independent Homesteads Candidate, Gary Byrne said: “I have been contacted by many residents through my work at the Homesteads Hall who are deeply concerned about the financial impact of these increases. With the cost of living in Thurrock dramatically rising, this is the last Christmas present they wanted to receive. FirstBus need to seriously consider the impact of their decision before pushing ahead with this outrageous price hike.”
“this outrageous price hike.”
If the bus company faced free market competition it would not be able to rise prices like that or it would lose its demand.
In economics its called profiteering.
Definition. make or seek to make an excessive or unfair profit, especially illegally.
Who ever privatised this industry along with the others. IMHO deliberately on purpose didn’t create free market competition.
There is no price discovery.
You need loads of compeditors without colusion on price.
Or it is a rigged system.
I am for Capitalism as taught by Adam Smith. But not the current system which is neoliberalism which is leading to monopolies or oligopolies. That is anti free market Capitalism.
But it is done by those at the top by design. Because they can control business and control politicians in there interests against Small and medium sized businesses and consumers.
Adam Smith was a big crritic of monopolies and control of the legislator.
Thurrock independents
what ever you do don’t nationalise the bus service. Insted create loads of competition without colusion on price.
The Tories, Blairrights and bus company will fight you all the way on this.
This if you do it correctly is a massive opportunity for local entrepreneurs to create local bus businesses that can spread nationally and even to the concentrated North American market.
I would look at this myself if I had experiance in that sector.
The bad thing about the current economical system neoliberalism is it guarantees concentration of things as time goes on.
The wonderful thing about
Capitalism is it spreads opportunity and lifts more and more people out of poverty and a rising tide lifts all ships.