Bus, tube and rail fares in London are set to rise above the rate of inflation to 7% from next year as revealed by plans set out by the mayor of London, Boris Johnson.
The price hike for London commuters travelling on the city’s buses and tubes will come into play from January 2012. The increase in the cost of bus and tube travel will be 2% above the rate of inflation, which has prompted criticism from some corners.
However the mayor, Boris Johnson, has defended his decision to raise the cost of transport in London saying that the increase is necessary in order to guarantee that the transport systems continues to run effectively for the millions of people who use the network daily.
Mr Johnson also highlighted the fact that he has secured investment of £12 billion in London’s transport network in his four years in office helping to sustain a healthy and well oiled transport system for the capital. However the system relies heavily on the income from fares to sustain the efficient running of the bus and tube network.
Those who oppose the fare rises, such as Caroline Pidgeon, leader of the Liberal Democrat London Assembly Group, say hike in travel costs for those living in the capital will hit the most vulnerable such as those on low incomes.
