Transport Minister Norman Baker has hailed the announcement of a cap on rail fare increases:
The coalition Government is committed to fair rail fare pricing and the announcement today is good news for both commuters and people who use the train less regularly.
My Liberal Democrat colleagues and I have been making the case for a fair deal for passengers and I'm delighted that the two parties have come together on this.
We have been very clear that as soon as the public finances allow, we should try to bring rail fares down and that we should keep the price rises to a minimum in the meantime.
Liberal Democrats have also been clear on the need to put our railways on a sustainable footing. They need investment and they need it for the long-term.We will be working with the rail industry to achieve this so that the burden is shared fairly between passengers and the railway companies.