TfL fare rises: Tube and bus prices could go up by 10% next year, Sadiq Khan warns

“My concern actually is what happens this September when inflation could be at 8% to 9%.”

Cash-strapped Londoners could be facing an additional squeeze on their wallets with Tube and bus fares facing a potential 10% further rise next year, Sadiq Khan has warned.

The mayor admitted his “concern” that Transport for London (TfL) would be forced to inflate costs yet again after prices rose by 5% earlier this year.

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At a meeting of the London Assembly at City Hall today, Thursday, June 9, he told assembly members he was worried about public transit prices adding to the cost of living crisis.

Sadiq Khan on new Piccadilly trains

Mr Khan said: “The only reason we increased fares by RPI+1 [this year] was as a condition of us receiving funding from the government as required because Londoners did the right thing.

“Judge me on my record, in my first five years as mayor when the government wasn’t seeking to micromanage TfL we froze fares.

“My concern actually is what happens this September when inflation could be at 8% to 9%.

Commuters attempt to board a bus outside Victoria train station in London on June 6, 2022, during a 24-hour strike by nearly 4,000 London Underground station staff. (Photo by HOLLIE ADAMS/AFP via Getty Images)

“And if the government requires us next year to do another RPI+1 [inflation] that’s a 9% to 10% fare increase for the poorest Londoners that you and I really do both care about.

“It’s really important the govt gives us a decent deal both in terms of operational support this year and also long term capital going forward.”

This would mean a bus fare might go up from £1.65 to £1.80 (9%) and a Zone 1 peak journey could go up from £2.50 to £2.75 (10%).

Green Party assembly member Sian Berry commented: “The rate of inflation is terrifying when you think about what that might do to fares.”

And the mayor added: “Londoners are currently facing three big issues - energy, National Insurance and inflation. I don’t want to add to that with an increase in fares next January.

“If fares are more affordable, more people use public transport. There’s an economic case to keeping fares low, and a moral case of supporting Londoners during this crisis.”

A Department for Transport spokesperson said: “We have repeatedly shown our commitment to supporting London’s transport network throughout the pandemic, providing close to £5bn in emergency funding to Transport for London - all at a time of significant pressure on the national finances.

“Decisions on TfL fares are a matter for the Mayor and he must take responsibility.”