WHAT is the National Transport Authority thinking? The quango's decision to allow various public transport companies to start increasing monthly and annual fares by as much as 10pc stands most economic tenets on their heads.
The reason given by the NTA is that fewer people are using the system. This is hardly surprising when one considers that monthly and annual fares were pushed up 6pc in March and inter-city rail prices went up as much as 13pc in February.
The troika has proved tenacious when it comes to challenging doctors, lawyers and others who work in what the troika euphemistically calls the sheltered sectors of the economy. Perhaps it could turn its attention to the transport companies next.