People understand tough decisions are needed to fix public finances, PM insists in pre-budget comments

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The bus fare cap in England will rise from £2 to £3 at the end of this year, Keir Starmer has said, as Rachel Reeves prepares to raid transport funding in this week’s budget.

The prime minister told an audience in Birmingham that the money to fund the £2 cap would run out at the end of 2024 and that the Labour government would then not be able to keep it at the same level after that.