Mayor of London, Boris Johnson acted to ensure that vital improvements to London’s transport system continue to be delivered and front line services protected in the face of huge financial pressures on Transport for London (TfL) caused by factors including the collapse of Metronet, a recession-linked fall in Tube ridership, and the fares policy of the former administration.
Announcing his plans for Tube and bus fares, the Mayor said he had protected free and concessionary fares for London’s elderly, young people and those on low incomes. 40% of bus passengers will continue to travel free or at a substantial concessionary rate and the Freedom Pass will continue to be valid for travel 24hrs a day on all TfL services. The Mayor also made clear that his approach to fares and investment would bring stability to TfL’s financial position, in sharp contrast to the damaging volatility and uncertainty brought about by the previous administration’s approach.
The fares package for 2010 means that, overall, bus fares will rise by 12.7 per cent and Tube fares by 3.9 per cent. This is comparable to fare increases introduced in 2005 and 2006, when bus and Tube fares increased by 12.7 per cent and 4 per cent, and then by 12.9 per cent and 3.9 per cent respectively.
