London Tube and bus fares to increase

LONDON Mayor, Boris Johnson, has confirmed that fares on London's transport network will rise by an average of 7 percent from January 2012. The Tube, buses, London Overground, Docklands Light Railway (DLR), boats and Tram services will all be affected. Free and concessionary travel for older people, students, veterans and disabled Londoners will remain in place.

In October 2009 TfL set out the average fare increase of inflation plus 2 percent in its business plan. The current rate of inflation - based on July's retail price index (RPI) - is 5 percent and therefore, based on this plan, TfL said some services may increase by more than 7%, while others would rise by slightly less. Transport for London (TfL) said the above-inflation rise was necessary to maintain investment in the network. Fare changes include:

•    Oyster pay as you go fare on the buses rising by 10p to £1.40
•    Oyster pay as you go fares on the Tube rising by between 10p and 30p
•    Cash fares on the Tube increasing by between 30p and 40p
•    London Travelcard season ticket prices rising by 8 percent

Announcing the fare increases, Mr Johnson, expressed his understanding that this increase comes at a difficult time for many but he said it was necessary to ensure that they continue apace with plans to overhaul London's transport system in the face of unprecedented demand. Johnson also highlighted the £12bn investment in London's transport infrastructure that has delivered the Tube upgrade, new trains and the extension of the East London Line to Highbury and Islington. Other projects in the pipeline include the extension of the cycle hire scheme, completion of the London Overground network and the launch of a new model of bus for London.