This paper sets out Transport for London’s (TfL’s) revised fare change proposals to be implemented from 2 January 2013.  The revised proposals will increase TfL fares by 4.2% overall or by 1% more than the annual increase in the Retail Price Index (RPI) in the benchmark month of July 2012.  The revised changes to fares are expected to raise around £134m per year.

Travelcard prices will increase by 4.2% reflecting the link with National Rail fares and the latest guidance from the Secretary of State for Transport that regulated rail fares should rise by 4.2% (RPI+1%) in January 2013.  On the Underground, PAYG prices increase by 4.1% overall, with peak PAYG fares in London increasing by up to 20p and by 10p at other times.  The bus PAYG single fare increases by 5p to 140p and the one day bus cap by 4.7%. Bus & Tram Pass season prices increase by 4.3%.

The scope of all concessions and discounts on TfL services will remain unchanged.