London faces 6% transport fare hike
Updated on 04 September 2008
Bus and Tube fares in London are to increase by an overall figure of 6% from the New Year and there will be some "tough choices" about some transport projects in the capital, Mayor Boris Johnson announced.
Fares will increase based on July's RPI inflation of 5%, plus 1%, while Transport for London will keep under review the impact of higher oil prices.
Some fares will be cut, including a new off-peak fare aimed at encouraging Londoners and visitors to travel after 0930.
Mr Johnson hit out at the "largesse" of previous Mayor Ken Livingstone, accusing him of creating an £80 million financial hole.
The Mayor said there would be a new half price travel scheme for people on income support, while the elderly and war veterans would still receive support.
Mr Johnson said the previous Mayor's fares policy had been "unsustainable", removing more than £80 million from TfL's funds this year alone.
"This fares package is designed to be fair to all Londoners, commuters and visitors. Some of us will pay a little more but I have ensured fares will remain affordable, especially for people who rely on public transport most, including the elderly, disabled veterans and those on lower incomes.
"I have been left to tackle the unfunded legacy of Livingstone's largesse. Put simply, the previous Mayor's cynical and irresponsible pre-election fares freeze and support for unfunded transport schemes is unsustainable, and has produced a gap that has to be plugged.
I'm determined to deliver value for money for London's farepayers and taxpayers and that will mean some tough choices.
"We're investing billions to improve transport in London, prepare for 2012 and deliver Crossrail. This is a fares package that will sustain the investment needed to deliver the extra capacity and reliability that is vital for London."
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