March 9 2014 Latest news:
Tuesday, December 3, 2013
Tube and bus fares are being frozen in real terms by Boris Johnson who said he wants to ease the pressure on families in London.
The price of travelling in London is rising by an average of more than three per cent in 2014, but the figure is in line with inflation meaning travellers should not feel any rise in cost.
Several fares are being frozen at 2013 prices, which the Mayor said means a real terms cut in price, however the price of many travel cards is rising above inflation.
Mr Johnson said: “I have always said I was determined to bear down on fares, while ensuring that we can still invest properly in a transport system that is critical to our city’s success.
“This package, which has been made possible by the continuing delivery of efficiencies across TfL, ensures that fares remain affordable and that we have the level of funding we need to continue to improve the network and deliver even better, more frequent services for everyone.
“I know that families and working Londoners who have helped the drive the economic recovery still face real pressure over the cost of living and so I’ve decided to keep fares in line with RPI and therefore freeze them in real terms for next year.”
A spokesman from TfL said because season tickets also cover National Rail within Greater London, the weekly, monthly and annual Travelcards will rise by 4.1 per cent on average the rail firms’ price rises.
But the cost of an off-peak One Day Travelcard, which is being simplified in 2014 to just a Zones 1-6 ticket, will be frozen, as will Oyster single-day price capping.
TfL said most Oyster pay as you go fares for the Tube, DLR and London Overground will remain frozen at 2013 prices next year.
Only three fares; the Zone 1 peak and off-peak single tickets, and the Zone 1-2 off-peak single ticket, will increase by 10p.
And on London’s buses, both the daily price cap and the cash fare for a single bus journey will be frozen, but the pay as you go fare for Oyster and contactless payment card users will rise five pence to £1.45.
London’s Transport Commissioner, Sir Peter Hendy CBE, said: “The Mayor has been able to bear down on fares in 2014 as a result of the more efficient delivery of improvements and services by TfL.
“With London’s population set to grow from 8.4m today to around 10m by 2030, we will continue to build on our track record of modernisation and improvement on London’s transport network to ensure it is properly equipped for the challenges that lie ahead.”