Good in principle but as always thise living near boundaries end up hainvg tp pay more (e.g. I can't use the South Yorkshire mult-modal Connect+ ticket as I'm 3 miles into Notts.I would like to see a move to regional or even a national daily cap myself. The problem with buses in most areas is they are run by different companies that don't accept each others tickets and many journeys at the shorter end often require 2 buses. For example, most areas of Harlow, Essex to its rail station require a change of bus (many routes only go to the town centre). A daily cap of £5 to £10 depending on the size of a region, town or city would be a good idea. About time, more places copied London or Manchester, were capping includes multiple modes of public transport. The £3 cap is good for being simple but should evolve into something even better, which along with route and service improvements, could be encouraging modal shift and use of ALL public transport in an area. I'd like to see a rail ticket cap too!
Also, when the frequencies are not ideal (every 2 hours at best) and there is a "linking" service for the missing hour, you have to pay twice.