Tube and bus fares will rise from the start of March (Credit: TfL)
It will be the largest annual jump in Transport for London ticket prices in a decade and is aimed at making TfL financially sustainable by April 2023.
Pay-as-you-go Tube fares in Zone 1 will go up by 10p to £2.50 while the daily price cap on multiple Tube trips will rise by 30p to £4.95.
The hopper bus fare, that allows people to make several trips in one hour for the price of a single ticket, will also rise by 10p to £1.65.
Sadiq Khan said the changes meet the conditions of an agreement with the government for more funding for TfL.
“Public transport should be affordable to all, and I’ve taken bold action to ensure this since I became Mayor by introducing the unlimited Hopper bus fare and freezing all TfL fares from 2016-2021 – saving the average London household over £200,” said Khan.
“Since TfL’s finances were decimated by the pandemic, the government has set strict conditions as part of the emergency funding deals to keep essential transport services running in London.
“We have been forced into this position by the government and the way it continues to refuse to properly fund TfL, but I have done everything in my power to keep fares as affordable as possible.”
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