London Mayor Sadiq Khan has confirmed fares across the Transport for London (TfL) network will be frozen from January until 2020
The freeze is expected to cost £640m, but will not apply to travelcards, monthly Oyster cards or daily caps, since they can be used on services provided by other operators. During his mayoral election campaign, Sadiq pledged that Londoners ‘won’t pay a penny more for their travel in 2020 than they do today.’
Bus and tram tickets, Pay As You Go journeys on the Tube, Docklands Light Railway and TfL rail services will all be frozen. Bike hire charges will also not rise before 2020. TfL will have to make cuts of at least £591m by 2018, the point at which it will lose its government operational grant. The fares freeze is likely to mean further cuts to TfL’s budget as it seeks to absorb the cost.
