It seems that the inevitable is happening – with the Mayor of London Sadiq Khan having to raise fares across Transport for London’s (TfL) services.
London Underground S Stock train at Farringdon – Image, Economy Class and Beyond
The changes will kick in from 1st March 2022, following conditions set in the short-term extension of TfL’s funding agreement with the Government.
Fares will rise by an average of 4.8%, with fares rising by 10p to 20p a ride. Whilst this doesn’t sound a lot, when you start stacking up those 10p and 20p rises, they add up quickly – both the operators and the passenger.
According to the Mayor of London, these changes to fares will help ensure that TfL can reach financial sustainability by April 2023 in line with the long-term objective of the funding agreements, while also ensuring the increase in fares is as affordable as possible for Londoners. This is only the second time that TfL controlled fares have increased since 2016 after Sadiq froze fares between 2016 and 2021.
While the overall level of fares set by TfL will increase by an equivalent of RPI+1 (Retail Price Index), some individual Tube fares will increase by more or less than that amount owing to rules stating that increases can only be made by 10p increments.
Tube fares solely within Zone 1 will increase for the first time in six years, from £2.40 to £2.50.
Passengers who travel greater distances on TfL services will see a slight increase to further bring them in line with nearby National Rail fares.
While single pay as you go fares on Tube, DLR and most TfL-run rail services will increase by RPI+1, bus and tram single fares will increase by 10p to £1.65, and the daily cap will increase by 30p to £4.95, the same price as three single journeys.
As rail revenue is significantly higher than bus and tram revenue, and TfL has budgeted for fares to rise by RPI+1 overall to reach financial sustainability in line with the funding agreements, bus and tram fares will need to increase by the equivalent of RPI+2.7 per cent to achieve the overall rise.
Let us break that down.
- Pay-as-you-go Tube fares inside Zone 1 (Central London) will increase by 10p to £2.50
- Hopper bus fares which allow multiple journeys within an hour increases by 10p to £1.65
- The daily cap on multiple pay-as-you-go Tube journeys rises by 3.8%.
- The Daily cap on bus journeys up 30p to £4.95.
In addition, the Uber Boats by Thames Clippers and Emirates Cable Car will have price rises too.
And now in pretty tables provided by TfL. Firstly, Pay As You Go caps:
Those of you with TravelCards, expect to pay more too.
In Quotes
The Mayor of London, 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.”
It’s never a good time to raise fares
With the cost of living going up faster than a ballon at a party at Number 10 Downing Street, the cost of the past two years of low passenger numbers, funding for TfL has been a concern for some time. Whilst the emergency funding, it seems that TfL’s hand has been forced to raise prices.
If you’re visiting London, you probably won’t notice a few extra 10p’s here and there.
For those who live or commute into the city, it is going to be another cost to stomach so you can get around the Greater London area.
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