Londoners are to get a slight reprieve from the latest Tube and bus fares.
Fares were due to increase by an average of 3.1% – the RPI rate of inflation – from January 3rd while Travelcards, which can also be used on National Rail services within the capital, were set to increase by 4.1%.
However Transport for London has told the London Assembly’s Budget Monitoring Sub-Committee it expects the rise to be delayed until January 19th.
This is due to Chancellor George Osborne’s recent announcement that train fares should increase only by RPI, a proposal the Mayor has now agreed to apply to Travelcards.
Commenting on the delay, Committee Chair John Biggs AM said: “It is farcical that what appears to be a lack of communication between the Chancellor and the Mayor has resulted in TfL being unable to implement the planned fare rises.
“While this will bring a few weeks relief to Londoners in the new year, it will leave a hole in TfL’s budget, one which the Mayor said fares needed to increase to fill. He should be knocking on the door of 11 Downing Street demanding the Chancellor cough-up that cash.”
