From Iceland — Fare Increase Put On Hold

Fare Increase Put On Hold

Published November 30, 2013

Mass transport company Strætó bs. announced that they will postpone the bus fare increase that was scheduled for December 1.
DV reports that the leadership of the company decided to wait on the fare increase while the parliamentary budget proposal is still pending.
The budget proposal currently submitted outlines 822 million ISK will go to public transportation. However, the previous budget had already outlined 956 million ISK – leaving a 133 million ISK difference. The current budget is still weeks or even months away from finalisation.
Strætó justified the proposed raise last October by citing the fact that they had not raised individual fares since 2011. They did, however, raise the price of bus passes last year.
If, or when, the individual fare raise goes into effect, passengers can expect to go from paying 350 ISK per trip to 400 ISK.

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