LOOK IN ON LONDON
Higher fares, Hopper ‘buffer’ cut, more central cuts to come
Transport for London has revealed full details of its 1 March fares increase as well as some longer term plans to achieve financial stability by 2023/24.
Single bus and tram fares will increase by 5p to £1.55 (the first rise in six years), the daily cap will increase by 15p to £4.65 and the seven-day Bus & Tram Pass rises to £21.90. The temporary restrictions on the use of concessionary passes by over-60s in the morning peak hour will remain. Free travel for under-18s is also safeguarded.
The multi-journey Hopper fare, which allows unlimited bus and tram transfers within 1hr, is maintained and increased to £1.55, but the 10min buffer extending validity to 70min — applied to address concerns about the synchronisation of bus reader clocks — will be reduced to 2min. The change is expected to generate annual revenue of around £1.4million based on pre-Covid figures.
Overall, the fares increase should generate £74million per annum — £31million on buses, £34million on the Underground and £9million on TfL’s other rail services.
TfL says a key to achieving financial stability by 2023/24 will be to allow it to retain what it says is…
