Sadiq Khan, Mayor of London has outlined details of fare changes required for TfL services from 1 March 2022, following conditions set in the short-term extension of TfL’s funding agreement with the Government.
The details released show that fares will rise by an average of 4.8 per cent, meaning most will increase by either 10p or 20p.
- fares on TfL services will rise by RPI+1 (4.8 per cent) overall on 1 March 2022 to help TfL reach financial sustainability.
- increase is in line with conditions placed on continued short-term funding agreements by the Government.
- tube pay as you go fares within Zone 1 will increase by 10p – their first increase since 2016.
- All revenue raised from fares will ensure TfL can continue to operate but will not negate the threat of a ‘managed decline’ scenario should Ministers fail to provide the sustainable funding deal critical to our national economic recovery.
The Mayor of London, Sadiq Khan said:
“Public transport should be affordable to all, and I’ve taken bold action to ensure this since I became Mayor by introducing the unlimited Hopper bus fare and freezing all TfL fares from 2016-2021 - saving the average London household over £200.”
Shashi Verma, Director of Strategy at TfL said:
“This fares package aims to keep fares as affordable as possible while still ensuring TfL can continue to run clean, green, and safe services and support London’s continued economic recovery. Through daily and weekly capping, as well as the Hopper fare and our wide range of concessions, passengers can continue to get the best value fare by using pay as you go with contactless and Oyster.”