Additional funding of £212 million has been provided to local authorities this year to cover the extra cost of the new concession. It is estimated that this will bring the total spending on concessionary fares to approximately £1 billion this year. The Government are confident that there is sufficient funding in total for statutory concessionary fares.
The Government provide funding to local authorities to allow them to reimburse bus operators for concessionary travel. This funding now totals around £1 billion per annum and the Government are confident that there is sufficient funding in total for statutory concessionary fares. The rates set by local authorities for reimbursing bus operators are a matter for them.