Transport fares for Londoners will be frozen at current levels until 2020, Sadiq Khan has confirmed.
The freeze in Transport for London (TfL) fares for the next four years means that everyone buying a bus or tram ticket in London will not pay a penny more next year than they did in 2016. Pay as you go (PAYG) journeys on the Tube, DLR, Emirates Airline and rail services where TfL fares apply will be frozen. Hire and access fees on Santander Cycles will also be frozen. The new guidelines were published today in the 2017 TfL fares package.
The London mayor, who made fare freezes a big part of his campaign earlier this year, said today: "After years of huge fare increases for London passengers, I’m delighted to be formally announcing our plans to freeze TfL fares across London’s transport network.
"Before taking office I was determined to ensure we took significant action to make public transport more affordable and we’ve already taken major steps through the introduction of the ‘Hopper’ ticket that in just two months has saved Londoners money on over 10m bus journeys."
Khan said the TfL fares freeze will save an average household £200 over the next four years, and would encourage people to use public transport more often.
“I’m now demanding that the government follows my lead and freezes fares on London’s suburban rail routes, where passengers have been hit by unacceptable delays, cancellations and overcrowding," he said.
"It’s simply not right that London’s rail passengers face another fares hikes caused by the government next year - the onus is on the government to ensure every passenger in London gets the fares freeze they deserve.”
Meanwhile, London's transport commissioner, Mike Brown, said: "Freezing fares help make our network more affordable for Londoners. Our efficiency programme allows us to deliver this while still providing the transport services London needs and also continuing to invest for future demand and growth."
In May, credit ratings agency Moody's warned that Khan's plans to freeze fares would be "credit negative" for TfL.