Fares policy (4)

Meeting: 
MQT on 2015-11-18
Session date: 
November 18, 2015
Reference: 
2015/3704
Question By: 
Darren Johnson
Organisation: 
City Hall Greens
Asked Of: 
The Mayor
Category: 

Question

If TfL were to adjust the daily fares caps so that they were equivalent to the cost of an annual travelcard divided by the number of working days in the year, rather than one fifth of a weekly travelcard, then (a) how many passengers would this affect and (b) what would be the total cost to TfL in one year?

Answer

Answer for Fares policy (4)

Answer for Fares policy (4)

Answered By: 
The Mayor

This proposal would reduce the daily cap by around 20 per cent.

In one year, the total cost to TfL of a 20 per cent reduction in the daily cap would roughly be equivalent to a 10 per cent fare cut.

As a rough estimate, a 10 per cent fare cut would cost TfL up to £400 million per annum in lost fares revenue, assuming National Rail services in south London were included and the operators of these services were compensated by TfL.

More than one million passengers per day would be affected by the change, including most weekly and monthly Travelcard users who would be likely to switch to 'pay as you go' in order to take advantage of the cheaper fares.