Fares could rise above inflation next year, Assembly warned
ROCKETING inflation could mean a big rise in public transport fares next year, Transport for London has warned. High inflation is affecting running costs of bus and Underground services which may be passed onto passengers
ROCKETING inflation could mean a big rise in public transport fares next year, Transport for London has warned.
High inflation is affecting running costs of bus and Underground services which may be passed onto passengers, the London Assembly was told yesterday.
Transport chiefs are likely to recommend to Boris Johnson that fares from January will need to rise by two per cent on top of inflation, which would be seven per cent based on current figures.
The shock forecast followed last January’s massive fare rises when single bus fares went up by 20 per cent with average fares up 12.7 percent, while Tube passengers were hit by almost four per cent.
City Hall’s Budget chairman John Biggs, who represents East London on the Assembly, challenged whether TfL’s further fare increases are justified.
“Londoners have already been hit by a hike in fares, particularly bus passengers who bore the brunt of the rises,” he said.
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“We are looking at how the existing fare increases have already affected passengers and will assess whether further rises on the scale suggested by TfL can really be justified.”
His committee has begun a full investigation into TfL’s Business Plan for next year.
The Mayor’s decision on fares is usually based on the Retail Price Index for July in of the previous year. The current index is just over five per cent which is not expected to change significantly next month.