The capital’s motorists and cyclists are expected to pay Transport for London an additional £12m each year as a result of changes to the congestion charge and cycle hire scheme.
Mayor Boris Johnson has previously been accused of favouring both groups while pushing up fares for public transport users.
In defence of his policy of annual fares increases, the Mayor previously said it would be wrong to hold fares down before an election “and then whack them up cynically thereafter.”
However since the election the Mayor has announced two measures expected to see TfL take more from drivers entering the congestion charge zone and using the cycle hire scheme.
A doubling of cycle hire membership fees is expected to net TfL an additional £4-6m per year.
He has also confirmed changes to the congestion charge scheme which will see TfL receive a further £6m every year.
This figure includes £20.5m from a hike in the penalty for driving into the congestion zone without paying the charge, a change which carries “no cost to TfL.”
Recent TfL polling revealed that its decision to grant Barclays naming rights for the cycle hire scheme and it’s subsequent high profile pushing of the Barclays brand has backfired.
The association with the bank has lead “many” users to believe the scheme makes a profit for TfL while “most” users are unaware that the scheme is subsidised.
This perception is likely to be a key driver behind dissatisfaction with membership charge increases. In a separate survey of users, the price hike was the biggest reason given by the 20% of users not intending to renew their membership.
