Londoners could face further above inflation increases in their fares according to Transport for London officials appearing before the London Assembly today.
A meeting of the Assembly Budget and Performance Committee heard that the capital’s transport authority was considering recommending a fare increase to Mayor of London Boris Johnson because high inflation is affecting its running costs.
Last October the Mayor announced an increase in many fares with bus fares increasing by 12.7% while on the Tube the Zone 1 Oyster pay as you go fare increased from £1.60 to £1.80. Overall Tube fares increased by 3.9%.
Committee chair John Biggs said AMs, who are investigating the impact of last year’s increases, would be looking at whether “further rises on the scale suggested today by Transport for London can really be justified.”
Despite the pressures on TfL’s finances the Mayor has recently recommitted himself to consulting on abolishing the Western Extension of the Congestion Charge, a move critics say would cost TfL millions of pounds in lost revenue.
Speaking after last October’s fare announcement Green Party AM Jenny Jones accused the Mayor of “favouring motorists by going ahead with plans to cancel the western extension of the congestion charge” while “pricing people off public transport”.