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Can't see this happening whilst rail privatisation exists
it's being looked at pretty seriously; at a guess, i'd say it could be up and running within 18 months or so, which is pretty quick for the rail industry.
on another point, rail privatisation barely exists at present with all revenue risk assumed by DfT.
I don't see that as changing in the immediate future, so DfT could easily mandate flexible season tickets, and train operators would have no reason not to implement, as they don't get the revenue anyway.
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The whole situation is highlighting how nonsensical the current franchise model is. The only way they would implement it is if it was a diktat from government, obviously the government has a lot more power to dictate terms but they should just use it to renationalise the network. Franchises might agree to it now but when things are back to normal and you take a 1/3 of the revenue away I can't see many of them renewing so you'd (hopefully) end up with nationalisation by default as the contracts expire or (probably more likely with these shower of shits in charge) taxpayers subsidising it and making the system even more perverse than it is at the moment.
Can't see this happening whilst rail privatisation exists. It's not tricky at all to implement, there just isn't any financial incentive to do so.