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London transport fares could rise by up to 14% in 2023

Reuters Commuters at Canning TownReuters
The government has paid nearly £5bn in bailouts to keep TfL services running during the coronavirus pandemic

Londoners could face "unprecedented" rises in Tube and bus fares next year, the mayor has warned.

Sadiq Khan says he will resist attempts to raise fares by the rate of inflation plus 1%, which is assumed to be a condition of a government funding deal.

In June the rate of inflation was measured at 11.8%.

The Department for Transport (DfT) said it has provided Transport for London (TfL) with more than £5bn worth of funding since May 2020.

TfL's income, mainly from fares, plummeted at the beginning of the Covid-19 pandemic.

Talks between the government and TfL have been continuing for weeks after the previous deal expired on 3 August.

There have been repeated rows between them over its funding and the cause of TfL's financial issues.

PA Grant ShappsPA
Grant Shapps has yet to make any guarantee for Tube or bus users in London that fare increases will not match inflation

It is assumed fare levels are part of these discussions but Mr Khan said he was not yet clear what was being asked of London.

Mr Khan told the BBC passengers could not cope with this extra burden on their living costs.

He said: "If the government insists on inflation plus 1%, that could see Londoners paying fare increases of 13 or 14% in January.

"That's not on, not fair, and I will resist that."

Fare comparison graph

Government funding deals have been repeatedly extended but earlier this month Transport Secretary Grant Shapps insisted the current offer is the last financial package TfL would receive.

He said: "The balance we have come to here is the right one. It is the only offer which is on the table.

"There will not be a further one but we will work with TfL on the technical details to assist them.

"I very much look forward to this being put to bed so that Londoners don't have to keep hearing about stories about TfL needing more money and coming out with the begging bowl."

'Value for taxpayers'

The Department for Transport (DfT) said the latest deal would take TfL's emergency funding injection over £6bn.

A spokesman added: "It is clear we are committed to supporting London's transport network, but this must only be done in a way that is fair and represents value for money for taxpayers across the country.

"This deal, which would transform the travel for millions of Londoners, remains on the table as we continue our discussions with TfL."

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What does this mean for my fare?

  • A rise in 14% would lift the cost of a bus journey from £1.65 to £1.90 and a single Zone One tube fare from £2.50 to £2.85
  • Passengers buying a seven-day travel card for Zones 1-6 would see the price increase from £70.30 to more than £80
  • The All Day pay-as-you-go daily cap would increase from £14.10 to £16.00 in zones 1-6 and from £11 to £12.50 in zones 1-4
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