THERE are only so many ways the Government can intervene directly to address the increase in the cost of living, but one of them is crucial for anyone living or working in London. It is the price of travel. The settlement for annual fares increases is normally based on the July inflation figures, the RPI, plus, in the past two years, one per cent. But given that last month’s inflation was nudging 12 per cent, this would result in unaffordable fares. The Transport Secretary has already indicated he will make sure national rail fares go up by less than inflation. But what about TfL fares? It would be grossly unfair if Londoners were asked to pay an increase amounting to the rate of inflation or even more.
Mayor Sadiq Khan has said he would fight any attempt by the Government to impose inflation-matching increases in fares as part of a long term funding deal for London transport. That deal has still not been settled, and it should have been. But the Government shouldn’t need the Mayor to point out the obvious truth that Londoners must not be priced out of travelling to work. But that is precisely what an inflation-matching, or exceeding, price hike would be — who could afford to pay 11, 12 or 13 per cent more to travel by bus and Tube next year? Yet in March, TfL fare increases were a full percentage point higher than the national increase. This cannot be repeated, particularly given the difficulties employers still have in persuading people to return to their places of work.
