MD886 January 2012 Fare Changes

Reference Code: 
MD886
Date published: 
14 September 2011
Decision by: 
Boris Johnson, Mayor

This paper sets out Transport for London’s (TfL’s) proposed fare changes to be implemented from 2 January 2012. The proposed changes will increase TfL fares by 7.0% overall, in line with TfL’s Business Planning assumptions to increase fares by 2% more than the annual Retail Price Index (RPI) increase, which stood at 5.0% in the benchmark month of July 2011. The proposed changes are expected to raise around £200m per year and will help protect front line services and deliver key investment programmes. Oyster pay as you go (PAYG) fares increase on average by 6.3%. Travelcard season prices increase by 8% overall because of the link with National Rail fares which, as approved by the Secretary of State for Transport, are to rise by 8% (RPI+3%). On the Underground, PAYG fares go up between 10p and 40p during peak periods and by no more than 20p at other times. The bus PAYG single fare increases by 10p to 140p and the one day cap by 5%. Bus & Tram Pass season prices increase by 7.3%.