Big fare increases on way as Tube and bus chiefs eye £6bn pot to break even

Tube and bus passengers will be paying a record £6bn a year in fares to Transport for London under its new plans to break even, it can been revealed.

TfL finance chiefs expect annual fares income to increase by £1.7bn or 40 per cent over the next three-and-a-half years, driven in part by more passengers and in part by annual price hikes.