The mayor of London, Boris Johnson, has announced that travel costs in the capital will rise from January of next year. Bus and tube travel will see a sharp rise in the price of fares as part of the announced plans. The increase in ticket costs is needed to help make-up a gaping hole in Transport for London’s (TFL) funding budget.
From January 2010 the price of a single bus fare for oyster pay-as-you-go customers will increase by 20p to £1.20. The cost of a 7-day bus pass will jump from £13.80 to £16.60. On average bus fares are expected to see a 12.7% price increase.
Commuter groups and unions have condemned the news. They were angered further by the announcement that many of the planned improvement projects across London’s transport system will be delayed.
Boris Johnson conceded that the travel price increase is badly timed but is a necessary measure to ensure the future of TFL. The transport organisation currently has a £1.7 billion deficit on its funding budget for the next 3 years. He said “No one wants to make an announcement like this, especially when Londoners are feeling the effects of the recession.” The mayor blamed the current economic climate and the mistakes of his predecessor, Ken Livingstone, for the need to raise the cost of travel in London.