TfL: Sadiq Khan to freeze Tube, Underground and Elizabeth line fares

Sadiq Khan will freeze Transport for London (TfL) fares until March 2025 as part of a £123m investment in the capital's transport services.

TfL fares were set to increase on March 3 in line with national rail fares which will rise by 4.9%, but will now remain unchanged.

The freeze will apply to pay-as-you-go fares for bus, Tube, DLR and tram journeys, and the majority of those fares for London Overground and Elizabeth line trips.

The mayor previously froze TfL fares between 2016 and 2021 and his office said freezing TfL fares again was "a key part of the mayor's programme to support Londoners through the cost-of-living crisis".

Mayor Khan said: “The cost-of-living crisis continues to hit Londoners hard. That’s why I’ve decided to step in again to freeze TfL fares.

“Not only will this put money back in people’s pockets, making transport more affordable for millions of Londoners, but will encourage people back onto our public transport network. This will help to boost London’s culture, retail and hospitality sectors.”

The Labour mayor has been criticised by opposition London Assembly members saying he is taking this action to “try to buy the votes of Londoners.”

City Hall Conservatives leader Neil Garratt said: “Let’s be clear, Sadiq Khan is temporarily freezing TfL fares to try to buy the votes of Londoners. 

“As chairman of TfL, Sadiq Khan has run cap in hand to the government at every opportunity crying poor and demanding money to keep London’s buses, trains and Tube moving. The government has generously supported London with over £6bn to keep the transport system running in recent years.

“Facing an election in May, the mayor has miraculously found £123m from his magic money tree to freeze fares for one year.  Londoners are no fools. They will see this fare freeze as a desperate bid by a failing mayor to win their vote. When it comes to money, you really can’t trust anything Sadiq Khan says.”

Campaign groups have welcomed the news.

Paul Tuohy, Chief Executive of Campaign for Better Transport said: "This is good news for the millions of Londoners and visitors who use TfL services to travel across the city. Affordable public transport will not only help people with the cost of living, but it will also help with the fight against climate change, after the planet's warmest year on record."

The mayor has also approved an increase to the penalty fare on all TfL services from £80 to £100, reduced to £50 if paid within 21 days. TfL's most recent figures revealed that £130m per year is lost as a result of unpaid fares.

This week the mayor unveiled a £512m spending boost in his City Hall budget for 2024/25 and City Hall says the additional £123m will be allocated from the Greater London Authority’s (GLA) funds.

The mayor’s draft budget plan for 2024/25 also included more cash for the ULEZ scrappage scheme and more toilets on the Tube network.

Khan’s budget covers the financial income he has control over – including his share of council tax - the ‘precept’ - which is set to rise by almost £37.36 for Band D properties in April, TfL fare income and business rates.

The final draft budget will be released on February 14 and must be approved by the London Assembly.