Tube fares are to rise by 4.2 per cent next year, London Mayor Boris Johnson has announced.
The cost of tickets on London’s Tubes, Overground, DLR and trams will increase by one per cent above inflation from January 2013.
On the Tube, cash fares will increase by 20p and Oyster pay as you go fares will increase by 10p or 20p. The daily Oyster pay as you go cap for Tube, DLR and rail travel will be frozen at 2012 levels.
The Mayor of London, Boris Johnson said the fares package is lower than expected, having secured a £96 million investment from the government.
He added: “Before the end of the year I will spell out further investment on the transport network that will help us to provide faster, more frequent and reliable journeys for Londoners; and is crucial to the economic development and growth that is so vital to our great city.
“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.”
Concessionary travel for young people, veterans, older and disabled Londoners has been protected in 2013.
London’s over 60s have had free travel reinstated with the 60+ London Oyster card effective from the start of this month.
