INDUSTRY NEWS
MAYOR SETS OUT MAJOR PLAN FOR TRANSPORT INVESTMENT WITH FARE RISE AT ONE PERCENT ABOVE INFLATION FOR 2013
The Mayor of London, Boris Johnson, has set out a 2013 fares package that will help Transport for London (TfL) to continue and expand its major programme of investment in the capital’s transport network, and provide the support required to boost jobs and economic growth in London.
The Mayor has secured an extra £96million of funding and has confirmed that from 2nd January 2013 fare increases on London’s Tubes, buses, London Overground, Dockland’s Light Railway (DLR) and trams will rise at one per cent above inflation overall.
It was also confirmed that there will be increases to access fees for Barclays Cycle Hire in 2013.
The Mayor has ensured that concessionary travel for young people, veterans and older and disabled Londoners has been protected in 2013 so that those who need it most will continue to travel for free or at a discounted rate. London’s over 60s have had free travel reinstated with the 60+ London Oyster card.
Based on July’s RPI figure of 3.2 per cent, from 2nd January 2013 fares will rise by an
average 4.2 per cent across TfL services and Oyster pay as you go. Within that overall package the Oyster daily price cap for TfL rail and National Rail services will be frozen, while some fares will go up by slightly more or slightly less than the 4.2 per cent average.
On the Tube, cash fares will increase by 20p and Oyster pay as you go fares will increase by 10p or 20p. The daily Oyster pay as you go cap for Tube, DLR and rail travel will be frozen at 2012 levels.
The Mayor of London, Boris Johnson said: ‘Before the end of the year I will spell out further investment on the transport network that will help us to provide faster, more frequent and reliable journeys for Londoners; and is crucial to the economic development and growth that is so vital to our great city.
On the Tube, cash fares will increase by 20p and Oyster pay as you go fares will increase by 10p or 20p.
‘This fares package is hugely important to our millions of passengers and I am very pleased to have secured nearly £100m that will help to keep fares as low as possible, and protect the important concessions that we offer the most vulnerable Londoners.’
Barclays Cycle Hire will see changes to access fees from January 2013. 24 hour access will increase from £1 to £2, weekly access will rise from £5 to £10 and yearly membership will move from £45 to £90. Annual members will pay as little as 24p per day for unlimited journeys under 30 minutes. The majority of cycle hire trips are made within the free 30 minute usage charge period and additional charges for late return, non return and bicycle damage will not increase.
Over 17 million journeys have been made using the cycle hire scheme since its introduction in July 2010 and usage has risen by over 35 per cent in the last 12 months, with casual usage more than doubling during the same period. The access fee increases are the first since the scheme was introduced and will be used to make improvements to the future operation of the scheme.
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