CIE funding reduced by 18 million (7%) in 2014

[Jamie2k9]

http://www.independent.ie/business/b...-29663555.html

Funding to subsidise the cost of operating loss-making services has been reduced by €18m, or 7pc, heaping more pressure on the CIE group of companies including Bus Eireann, Dublin Bus and Iarnrod Eireann.

The companies have already sought fare increases from the National Transport Authority, and a decision is expected over the coming weeks.

If approved, it will be a further blow to commuters who experienced two increases last year alone.

Where will this leave IE's problems?

[Traincustomer]

Firstly I wonder is it possible to obtain a figure, precise or approximate, of how many million less IÉ will now receive? €6 million less? €8 million less? €10 million less?

Then, approximately what amount will the proposed fares increase generate across 2014?

This together with any latest information available on fare evasion, energy saving, staffing measures etc... should give an idea of what size of financial gap has to be "plugged".

[Jamie2k9]

Firstly I wonder is it possible to obtain a figure, precise or approximate, of how many million less IÉ will now receive? €6 million less? €8 million less? €10 million less?

Then, approximately what amount will the proposed fares increase generate across 2014?

This together with any latest information available on fare evasion, energy saving, staffing measures etc... should give an idea of what size of financial gap has to be "plugged".

Any sort of cut isn't good, remember 22 million in the red last year and the savings above are to take that down so any cut will largely just wipe out the savings that come from them. Unless there is a major increase in passengers IE can't do a lot to improve losses. These are the final few savings left to be make. Where do they go after here?

[Mark Gleeson]

The reduction in CIE subsidy is well known, Irish Rail will take a hit of around 10 million but that is factored in already

[James Howard]

How unlike the Indo to be inaccurate and indulge in a bit of scaremongering about Irish Rail.

[Mark Gleeson]

The reduction in the subsidy has been flagged since the IMF showed up

Based on business plans things stablise from now on and Irish Rail should return to a safe financial position.

There is a serious issue in that redundancy costs are significant in the short term so once that program is cleared its a double win, wages down and the lump sums end.

[berneyarms]

While no one likes fare increases, I see the Independent are still peddling the incorrect line that fares went up twice last year, which they did not.

There was one annual increase in both this year and last.

[Mark Gleeson]

The confusion arrises from the fact monthly/annual fares go up on a different day than cash fares

[berneyarms]

Originally Posted by Mark Gleeson

The confusion arrises from the fact monthly/annual fares go up on a different day than cash fares

One hopes that you (as an organisation) are correcting this misnomer by journalists?

[Mark Gleeson]

The fact there are two dates is in the document the journalists are given

If they want to use it from dramatic effect that's there business, equally if they cannot read the press material provided one wonders really.

We have been asked to comment on double fare increases and have ensured the story died given it didn't happen

[Kilocharlie]

Taxsaver.ie is now displaying November 2013 rates. Looks that the Annual/Monthly increase has happened. About 4-5% increase over current figures.

[grainne whale]

Originally Posted by Kilocharlie

Taxsaver.ie is now displaying November 2013 rates. Looks that the Annual/Monthly increase has happened. About 4-5% increase over current figures.

Annual Rail / Dart has increased by 9.8%. It was €1220 it will now cost €1340.

[Thomas Ralph]

Originally Posted by berneyarms

While no one likes fare increases, I see the Independent are still peddling the incorrect line that fares went up twice last year, which they did not.

There was one annual increase in both this year and last.

Not like the Indo is the bastion of high-quality journalism now is it.