Mayor freezing fare prices and TfL draft Business Plan

 

December 3, 2013

Today the Mayor announced that he is freezing fare prices in real terms in 2014, with an average rise of RPI only from 2 January. Many TfL fares and daily Oyster caps will be frozen at 2013 prices.

TfL is also publishing their draft Business Plan tomorrow which follows the funding settlement agreed with Government this year. This sets out how £16bn of efficiencies and savings are being made across TfL to support billions of pounds of investment.

See below for details of both announcements.

Mayor bears down on fares

Concerned about the cost of living for Londoners and recognising that transport costs are one of the biggest pressures on household budgets, the Mayor has decided to raise fares by an average of RPI only for 2014, which is a freeze on fares in real terms. This means that many of our fares and daily Oyster caps will be frozen at 2013 prices.

Limiting the average fare increase to RPI only for 2014, rather than RPI+1, has been made affordable through a combination of measures including our savings and efficiencies programme and commercial revenue targets. Based on July’s RPI figure, fares for our services will rise by 3.1 per cent on average in January.

Because Travelcard season tickets cover both National Rail within Greater London and our services, the weekly, monthly and annual Travelcards will rise by 4.1 per cent on average (RPI+1) to meet the National Rail fares rise of RPI+1 per cent.

Key elements of the January 2014 fares package are:

  • All free and concessionary travel protected for young, elderly and disabled Londoners;
  • Most Oyster pay as you go fares for the Tube, DLR and London Overground will remain frozen at 2013 prices;
  • On the Tube, only three fares, the Zone 1 peak and off-peak single tickets and the Zone 1-2 off-peak single ticket, will increase by 10p;
  • Oyster pay as you go daily caps frozen for the second year running;
  • On the Buses, the pay as you go fare on Oyster and contactless payment card increases 5p to £1.45 while the daily cap and cash fare is frozen;
  • The 7 Day Bus & Tram Pass will increase by 80p to £20.40;
  • The off-peak One Day paper Travelcard range will be simplified to the Zone 1-6 off peak ticket only and it is frozen at 2013 prices. Anytime One Day paper Travelcards rise in line with National Rail fares;
  • 7 Day Travelcards, and corresponding monthly and annual Travelcards, increase by the 4.1 per cent average reflecting the link with regulated National Rail fares; and
  • Fares on the Emirates Air Line will also increase by 10p except for multi-trip Oyster fares for regular users which will remain at £1.60. This is an overall increase of 3.2 per cent. It will be the first time fares have increased on the Emirates Air Line which has now carried over 3 million passengers.

Business Plan

Following the funding settlement agreed with Government this year, our revised Business Plan sets out how we will continue investing, modernising and improving London’s transport network, to support jobs, more homes and economic growth in the capital and across the UK as a whole. It also sets out how £16bn of efficiencies and savings are being made to fund this vital investment.

Our draft Business Plan to 2020/21 will be published tomorrow, and considered by the TfL Board on Wednesday 11 December.

Some of the key improvements which will be delivered over the next ten years include:

  • Crossrail – the brand new rail service linking east and west London which will be fully operational in 2019;
  • Northern line extension to Battersea via Nine Elms;
  • The start of the next phase of Tube upgrades including the Piccadilly, Central, and Bakerloo lines;
  • Tube station upgrades including Victoria, Tottenham Court Road, Bond Street, Bank, Elephant & Castle, Holborn and Camden Town;
  • The biggest ever investment in London’s roads, including expanding the network of intelligent traffic signals to cover three-quarters of all signals in London, and major redesigns of key junctions such as Elephant & Castle northern roundabout and Vauxhall gyratory;
  • 1,700 hybrid buses including 600 more of the cleaner and greener New Bus for London operating across the bus network;
  • London Overground Capacity Improvement programme, delivering a 25 per cent increase in capacity by moving from four to give car trains by 2016;
  • Major investment to transform cycling across inner and outer London;
  • Electrification of the Gospel Oak-Barking London Overground line;
  • Making at least 95 per cent of bus stops accessible by the end of 2016 and providing step free access at least an extra 27 stations across London Underground and the London Overground network;
  • Four additional trams on south London’s Tramlink network;
  • Extension of contactless payment cards to the complete TfL network; and
  • A new website with more personalised features and responsive design to make information faster and easier for customers to access while on the move.

The Business Plan will be published on the TfL website tomorrow – you’ll be able to find the full document here: www.tfl.gov.uk/businessplan