In a not unexpected move it has been confirmed that fares across the Transport for London network will increase from March 2022. The increase will be the largest since Sadiq Khan took over as London Mayor and comes as part of the conditions put on TfL in the negotiations for a new funding settlement from the Department for Transport.
The increase will come into effect from 1st March and will see fares go up by RPI+1 which equates to a 4.8% rise. Efforts have been made to keep any increase to a minimum and whilst the overall level of fares does go up by 4.8% some individual fares on the London Underground go up by more or less than this amount as changes can only be made in 10p increments.
Major changes for trams and light rail include:
- Tram and bus fares increase by RPI +2.7% in order to hit the overall RPI+1 rate (as rail revenue is significantly higher than bus and trams revenue and TfL has budgeted for fares to rise by RPI+1)
- Trams and bus “Hopper” fare (which allows unlimited travel within an hour) will increase by 10p to £1.65.
- Docklands Light Railway fares will increase by 4.8%
- The daily cap rises 30p to £4.95 – the same price as three single journeys
Sadiq Khan said: “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. 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.”
Shashi Verma, Director of Strategy at TfL, said: “This fares package aims to keep fares as affordable as possible while still ensuring TfL can continue to run clean, green and safe services and support London’s continued economic recovery. Through daily and weekly capping, as well as the Hopper fare and our wide range of concessions, passengers can continue to get the best value fare by using pay as you go with contactless and Oyster.”
- Details of TfL fares can be found at https://tfl.gov.uk/fares/?cid=fares