January fare increases

The Labour Party in the London Assembly are highlighting the January fare increases coming into effect on public transport today. They say:

Today Mayor Boris Johnson’s latest round of inflation-busting fare rises come into effect. This will be the fifth consecutive year that Boris has raised fares above inflation, with this year the average increase being 5.2%. Len Duvalll AM today renewed his call for the Mayor to limit his fare rise to RPI or less. This would help Londoners at a time when their living standards are being squeezed.

Since 2008 bus fares have increased by 56% from 90p to £1.40, a weekly zone 1-6 off-peak travelcard has gone up by 21% to £8.50 and a monthly Zone 1-3 has gone up by 25% to £136.70.

10 comments:

Robert said...

It was announced two years ago that Government subsidies for Transport for London would be cut but about £2 billion a year, and that would require a consistent 2% above inflation price hike for the next four years for the organisation to make ends meet.

I have to say - I love our transport system - it works well, and London would be a more disfunctional and insular place if it were to be parred down. But those fares are beginning to bite - I am feeling teeth now.

There are many organisations in the City and Docklands (and Westminster), whose existence and productivity is reliant on the successful running of our transport system. I don't think it's unreasonable to propose that they might use their profits (and influence) to contribute more to its running.

CH said...

At least TFL shall extend the opening hours (on Fridays and Saturdays), otherwise, the fares are just ridiculous for those common people!!

Matt Hero said...

The Canary Wharf group have certainly contributed a fair bit towards the DLR/Tube (and soon, Crossrail) infrastructure costs within their estate.

Robert said...

Yes, but have HSBC, Barclays, Citigroup, JP Morgan or Credit Suisse?

Matt Hero said...

Indeed not. I'm sure they'd argue that the rent that they pay to be on the estate allows CW to make these monies available, but I'm not arguing your general point about business making social contributions; it would be great.

Marc said...

The train operators won’t be profiting from these rises. The Department for Transport decides on the increase and extra money raised at the ticket booth effectively passes through the hands of the train companies, whose income is adjusted through the subsidy system so that, theoretically, they do not gain or suffer from price changes.

These rises are part of a long-term strategy, stretching back to the Labour Government, of making passengers carry more of the burden of financing the railways. While in the past about two thirds of the cost was picked up by taxpayers, the Government wants to reduce that to 50 per cent and by 2019.

Quizmaster said...

Speaking of stations Brockley was a pointless answer about London stations on 'Pointless' today.

Tim said...

I would like to argue that point. Business do make a social contribution. It's called taxes. If that tax system works in such a way that there are loopholes we don't like, then the government's job is to fix that. What is not right, is just randomly imposing a bunch of extra tariffs on big businesses, calling it a "social contribution" and saying they should do more. If you are going to do that, you have to impose the tariff on all businesses, as there is no real way of measuring how much benefit each individual business gets from the transport network.
Clearly the simplest way of paying for transport is what already happens - charing the user. You might not like the fares, but don't look to business as some sort of saviour.

Anonymous said...

 Are they actually extending the opening hours? By how long and on what services?

cbw said...

I think he meant "should"...

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