This paper sets out Transport for London’s (TfL’s) fare change proposals to be implemented from 2 January 2016. The proposals will freeze TfL fares overall in real terms relative to the 1.0% annual increase in the Retail Price Index (RPI) in the benchmark month of July 2015. The revised changes to fares are expected to raise £43m per year for TfL, an increase of 1.0%.
Travelcard season ticket prices increase by slightly less than 1.0% on average, reflecting the link with National Rail (NR) fares and the latest general guidance from the Secretary of State for Transport that no regulated NR fare should rise by more than RPI in January 2016.
The bus ‘pay as you go’ (PAYG) single fare is frozen at £1.50 while the One Day Bus cap increases by 10p to £4.50, the same as the cost of three single fares. The One Day Bus and Tram Pass is frozen at £5.00. The Bus & Tram Pass season price increases by 0.9%. The overall increase in bus fares is 0.8%.
On the Underground and other TfL rail services, PAYG single fares in Zones 1-6 are frozen, except for Zone 1 only and Zone 1-2 off-peak fares, which increase from £2.30 to £2.40. The all day multi-mode PAYG caps, which last year were reduced to become 20% of the 7 Day Travelcard price in Zones 1-6, increase by 10p, proportionally in line with the increases to Travelcard Seasons.
The Off-Peak Zones 1-6 Travelcard and the All Day Zones 1-4 Travelcard increase from £12.00 to £12.10 while the All Day Zones 1 to 6 Travelcard increases from £17.00 to £17.20.
The overall increase in TfL rail fares is 1.1%.
TfL will provide £0.5million funding to Train Operating Companies to extend free travel for Zip card holders aged 5-10 to National Rail services in London.
Stratford and a number of adjacent stations are moving from Zone 3 to the Zones 2/3 boundary on 2 January 2016. The effect of this is allowed for separately in TfL’s budgets and forecasts............