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London bus and Tube fares to go up from January London bus and Tube fares go up 4.2% from January
(about 1 hour later)
London's mayor Boris Johnson is set to tell passengers how much fares will rise on London's transport network. Fares across London's transport network will go up by 4.2% from January, mayor Boris Johnson has announced.
Fares on Tube, bus, London Overground, Docklands Light Railway, boats and trams could rise by 4.2% in January. The rise means a single bus fare on Oyster pay-as-you-go will be £1.40, up by 5p, while a zone 1 Tube journey will cost £2.10, an increase of 10p.
The rise could be 1% above the Retail Prices Index (RPI) inflation, similar to the increase seen in train fares. The increase, described by the mayor as "balanced", is 1% above the Retail Prices Index (RPI) inflation, similar to the increase seen in train fares.
Currently a single ticket on Tube, London Overground and DLR from zone one to two costs £2.70 on an Oyster card and £4.30 in cash. Cycle hire cost also doubled with an annual membership rising to £90.
A single bus or tram journey on the card costs £1.35 while the cash fare is £2.30. In October, the government announced that from January the average fares on mainline trains will rise by 4.2% rather than 6.2%.
In October the government announced that from January the average fares on mainline trains will rise by 4.2% rather than 6.2%.
The RPI plus 1% formula used for mainline trains is also expected to apply for London's transport network for the next two years.The RPI plus 1% formula used for mainline trains is also expected to apply for London's transport network for the next two years.
Val Shawcross, Labour's spokeswoman for transport, said: "Boris Johnson's plan had been to make it RPI plus 2% but with the government having slowed down the rate of the train fare increases, there has been a knock-on effect. Ahead of the announcement Val Shawcross, Labour's spokeswoman for transport, said: "Boris Johnson's plan had been to make it RPI plus 2% but with the government having slowed down the rate of the train fare increases, there has been a knock-on effect.
"So I think we are looking at probably 4.2% across the board on all the fares.
"TfL again raised more fare income than they intended to, so I think they could have kept it to RPI and didn't need that extra 1%.""TfL again raised more fare income than they intended to, so I think they could have kept it to RPI and didn't need that extra 1%."