A fare decision? The impact of the Mayor's fares decision

The impact of the Mayor's fares decision PDF The impact of the Mayor's fares decision RTF

London’s transport network is facing one of its biggest financial challenges yet, with a potential £1.7billion funding gap by 2018 caused by the effects of the recession, our report warns.

The Budget and Performance Committee says likely negative inflation in July 2009 will mean the Mayor will have to either freeze or reduce fares in 2010 in line with the formula (RPI + one per cent) he committed himself to last year. Reductions in passenger numbers mean Transport for London is already facing a shortfall in fares income of as much as £112million in 2009/10 and a fares freeze will add to the problem.

The Committee calls on the Mayor to set out how any shortfall in income from the recession will be met and urges him to consult with Londoners about his fares decision each year from 2010 – as is done in Paris and New York.

The below submissions were received during the Committee's investigation.

London TravelWatch evidence submission PDF

Citizens Advice evidence submission PDF

Mayor's Response:

Mayor's Response PDF