Brian Paddick says he would introduce a one hour bus ticket and ‘early bird’ fares if elected in May.
The Liberal Democrat’s Mayoral candidate has outlined three proposals which he says would “make fares fairer for passengers.”
Proposals include a one hour bus ticket, allowing passengers to “hop on and off as many times as necessary within an hour.”
City Hall Liberal Democrats have previously called on Mayor of London Boris Johnson to implement the scheme.
Paddick says he would also introduce new cheaper fares to “reward passengers starting their journeys before the morning rush hour” in an attempt to reduce peak passenger numbers.
He would also introduce “part-time Travelcards” which would offer special rates for less frequent passengers.
The announcement of Paddick’s fares policy follows Johnson’s latest fares increase, introduced earlier this month.
The Mayor had originally announced average increases of 7.2%.
However in December Chancellor George Osborne announced he was making funds available to lower the increase.
The Mayor subsequently announced a revised fares package that would see “overall” increases of 5.6%, although some fares are increasing by as much as 8%.
Labour’s Ken Livingstone has promised to reverse the latest increase, but opponents have questioned his ability to fund the policy.
Announcing his proposals, Mr Paddick said: “For the fourth year in a row Boris Johnson has racked up fares by far more than the rate of inflation.
“Blanket reductions are unrealistic but something can be done. It’s time to take a new approach and these three original Lib Dem ideas would make travelling in London more affordable, flexible and would reduce some of the peak time overcrowding on services.”
The declared candidates for May’s Mayoral elections are: Boris Johnson (Conservative), Ken Livingstone (Labour), Jenny Jones (Green) and Lawrence Webb (UKIP)