Fares on London Underground and rail services in the capital will increase by an inflation-busting 4.6% next March, while bus and tram fares will remain frozen.
The London mayor, Sadiq Khan, said the significant increase, double the rate of inflation, was forced on him by ministers who expected such a rise to unlock national funding for key transport projects.
“Following the government’s budget, ministers made it clear that to secure national funding for key transport projects in the future, TfL tube and rail fares would need to increase in line with national rail fares,” he said. “Vital national funding government funding will allow us to progress exciting future projects, such as Superloop 2 and more upgrades to the tube network.”
Transport for London’s daily price caps for travel will rise by between 40p and 70p, depending on what zones are travelled through, while bus and tram fares will be frozen at £1.75 for unlimited journeys within an hour.
It is the sixth time that bus and tram fares have been frozen in the capital since 2016.
It was revealed in October that national rail fares will increase by 4.6% in March. That increase was set at 1% above retail prices index (RPI) inflation in July – which at 3.6% was substantially higher than the 2.2% consumer prices index (CPI) measure usually referred to by government.
“More Londoners use the bus than any other form of public transport,” said Khan. “And it will particularly benefit those on the lowest incomes.”
Tfl said the 4.6% increase was only an average, with some prices rising by more, and others less, because of the need to round them.
The UK’s rate of inflation was 2.3% in October.
Tfl said the average overall increase in fares would be 3.6% once the freezing of the bus and tram fares were taken into account.
“Londoners know from my record that wherever possible I’ve made TfL fares more affordable and fairer for Londoners,” said Khan.
Next year a single pay-as-you go fare in zone 2 will increase by 10p from £2.80.
The 40p rise in the daily cap for someone travelling only in zones 1 and 2 will take the price to £8.90 a day. For someone travelling between zones 1 and 3 the cap will be £10.50 a day, a 50p rise.
TfL said the prices of concessions including zip photocards, the 18+ student photocard, the 18-25 Carer pass and the 60+ London photocard would remain unchanged.
“This fares package aims to keep fares as affordable as possible while supporting London’s continued economic growth,” said Alex Williams, the chief customer and strategy officer at TfL.
