Mayor answers to London
Fare increases 2008-2012
Question by Darren Johnson
What will be the average percentage rise in all TfL fares (for passengers who pay them) from May 2008 to May 2012? What will be the average percentage rise in Tube fares over this period? What will be the average percentage rise in bus fares over this period? What was the cumulative change in RPI on which the fare rises were based?
Answer by Boris Johnson (1st Term)
Officers are drafting a response which will be sent shortly.
Written answer received on 22 November 2011:
From 2008 to 2012, the average increase in TfL fares for passengers who pay them will be approximately RPI+2 per cent per year, after allowing for a one-off rise in bus fares in 2010 to help address the financial black hole left by my predecessor.
For full details please see the table below.
Clearly nobody welcomes fare increases but the alternative would be to allow the transport system to decline which will lead to a long-term deterioration in the London economy and a loss of jobs.
Even after these increases, bus fares in London represent excellent value compared with the rest of the country.
My consistent and stable approach has protected frontline services and unprecedented investment to upgrade and expand Londons transport network, despite the financial black hole I inherited from my predecessor during one of the hardest economic periods for many years.
My approach has safeguarded TfLs very strong credit rating which has helped the organisation secure more competitive borrowing rates to build the infrastructure London needs.
2009 Jan 2010 Jan
2011 Jan 2012 Jan 2009 to Jan 2012
Bus 6 11 5 7* 32
Tube 4 2 7 7* 23
Average 5 7 6 7* 27
RPI 5 -1 5 5 14
(Average fare increases paid by passengers. Average fares are calculated by dividing total fares revenue received from fare payers divided by the corresponding number of journeys. Except for 2012 where the headline figure announced has been given*)
It should be noted that many customers will not pay the full headline increase as announced by TfL as they may switch between ticket types to find the best value product for them. For example, the actual increase in the average bus fare paid in 2010 was estimated at 11.4% rather than the headline figure of 12.7%.