This report focuses on the future of the bus industry following the change of government in July 2024, setting it in the context of the changes that have taken place since the last Labour government left office in 2010. It contains analysis of: Where we have come from The bus market as it has evolved since 2010, looking at income, service levels, patronage, fare levels, costs and financial performance Bus Regulation Current status of the National Bus Strategy, BSIPs, Franchising and Enhanced Partnerships, including funding allocations The Key Tasks Ahead A detailed look at the four key tasks that the government, local authorities and operators need to deliver over the next few years, including: Improving performance, Increasing Service Levels, Decarbonising the Fleet, Net Zero and Modal Shift, featuring estimates of costs and other indicators. Alongside this, it provides the latest update on the Bus Industry Monitor methodology for suggesting what level of profits operators need to earn in order to sustain themselves and meet their financial obligations. The report also features five detailed Appendices to support the 100-page text, which is illustrated with 18 charts and 24 tables.