Tube and rail fares in London will increase by 4.6 per cent from March 2 next year, the capital’s mayor Sadiq Khan has announced.
The Labour mayor said he was told by ministers that such a rise was necessary to secure “funding for key transport projects”.
The hike in fares matches the increase in regulated train fares on England’s mainline railway.
Transport for London’s (TfL) daily caps will rise by between 40p and 70p depending on what zones are travelled through.
The Department for Transport (DfT) said raising fares was not a condition of funding announced in the Budget.
Bus and tram fares in London will be frozen at £1.75 for unlimited journeys within an hour.
Mr Khan said: “Londoners know from my record that wherever possible I’ve made TfL fares more affordable and fairer for Londoners – whether through the introduction of the Hopper bus fare or freezing TfL fares for five years as mayor.
“I’m really pleased to announce that I’ll be freezing bus and tram fares yet again next year, making it the sixth time since 2016.
“More Londoners use the bus than any other form of public transport, and it will particularly benefit those on the lowest incomes.
“Following the Government’s Budget, ministers made clear that to secure national funding for key transport projects in the future, TfL Tube and rail fares would need to increase in line with national rail fares.
“Vital national Government funding will allow us to progress exciting future projects, such as Superloop 2 and more upgrades to the Tube network, as we continue building a fairer, safer and greener London for everyone.”
TfL chief customer and strategy officer Alex Williams said: “This fares package aims to keep fares as affordable as possible while supporting London’s continued economic growth.”
A letter sent by then-transport secretary Louise Haigh to Mr Khan on October 30 stated that the Government’s assessment of TfL funding in the Spending Review was based on an assumption that the capital’s rail fares will “rise in line with national rail fares”.
A DfT spokesperson said: “Transport in London is devolved and decisions on TfL fares are ultimately for the mayor to decide on.
“We know the success of the London transport network is critical for both the capital and the UK’s economy, which is why during the Budget the Chancellor announced TfL would receive nearly £500 million in additional funding.”
