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London bus and Tube fares go up 4.2% from January London bus and Tube fares to go up 4.2% from January
(about 1 hour later)
Fares across London's transport network will go up by 4.2% from January, mayor Boris Johnson has announced.Fares across London's transport network will go up by 4.2% from January, mayor Boris Johnson has announced.
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 href="http://www.london.gov.uk/who-runs-london/mayor/mayoral-decisions/MD1090" >fare 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 increase, described by the mayor as "balanced", is 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. The government has provided £96m in funds.
Cycle hire cost also doubled with an annual membership rising to £90.Cycle hire cost also doubled with an annual membership rising to £90.
In October, the government announced that from January the average fares on mainline trains will rise by 4.2% rather than 6.2%. Concessionary fares for young people, veterans and disabled Londoners have been protected and those over the age of 60 will have their free travel reinstated.
The RPI plus 1% formula used for mainline trains is also expected to apply for London's transport network for the next two years. Mr Johnson said: "This fares package is hugely important to our millions of passengers and I am very pleased to have secured nearly £100m that will help to keep fares as low as possible, and protect the important concessions that we offer the most vulnerable Londoners."
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. 'Tough times'
"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%." Bob Crow, general secretary of the Rail, Maritime and Transport union, said: "We believe there should be a policy of freezing fares to recognise the tough times people are facing, to increase the use of public transport and to help boost the economy."
Richard Hebditch, campaigns director at Campaign for Better Transport, said: "By putting fares up above inflation, he is hitting hard-pressed families in the pocket simply for travelling to work."
Earlier Val Shawcross, Labour's spokeswoman for transport, said: "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%."
A single bus or tram fare on an Oyster card will be £1.40, a 3.7% rise, while the daily cap will rise by 20p to £4.40 - a 4.8% increase.
For those paying by cash a single fare will cost £2.40, a 4.3% rise. A seven-day bus and tram pass will be £19.60, up by 4.3%.
On the Tube, Oyster fares will rise by 5%, £2.10, for a single journey within zone 1, while a peak-time journey to zone 6 will increase by 4.2% to £5. The daily price cap remains unchanged.
The daily £1 charge to access bikes on hire will increase to £2, while the weekly charge will rise to £10.
Transport investments
Transport for London said over the next year London Overground's orbital route will be completed, linking 20 London boroughs, while on the Underground air-conditioned trains will be rolled out across the Circle and Hammersmith & City lines and signal upgrades to the Northern line will be completed.
Contactless payment will also be introduced on the transport network and the first phase will see bus passengers use contactless credit, debit or charge cards.
On the bus network, 600 new design buses have been ordered, which will run on a full route by Spring 2013. The hybrid bus fleet has also been increased to 400.
Dedicated cycle lanes, the cycle superhighway, will be extended from Victoria to Lewisham.
The fare rise is in line with the 4.2% increase in rail fares announced in October.