Labour orders Khan to raise Tube fares every year until 2030
'All while he pretends they're on our side and supporting devolution – ridiculous.'
The retail price index (RPI) measure of inflation stood at 4.3 per cent in May. The Government prefers referring to the lower CPI measure of inflation, which economists say is a more reliable measure of inflation.
Yet RPI is widely used across the public and private sectors alike to maximise financial returns from things, such as rental contracts.
'Offers no comfort to Londoners'
Sir Sadiq increased most TfL fares – including for the Elizabeth line and London Overground – by about 4.6pc in March, but froze bus fares at £1.75.
Main line rail fares are set by the Department for Transport (DfT), which has traditionally used RPI-plus-1 per cent. Last year that increase was also 4.6pc.
The next TfL fare increase is not due until March 2026, but may be announced before Christmas, the London Standard reported.
London TravelWatch chief executive Michael Roberts said the above-inflation rises 'offers no comfort to Londoners who continue to feel the pinch of the ongoing cost of living crisis and some of the most expensive public transport fares in Europe.'
He added: 'In previous years, the blow has been softened by freezing London bus fares. We look forward to seeing how TfL plans to keep fares affordable for those who need it most while ensuring at the same time that there is enough investment to maintain and renew the capital's existing transport network.'
'More complex than expected'
In a second blow for London commuters on Friday, TfL also announced that new trains for the Piccadilly Line will not enter service for another year.
Air-conditioned 2024 stock units were meant to be rolled out later this year, but will now not do so until the second half of 2026.
TfL said that tests of the Austrian-made prototype train in London had proved 'more complex than expected', adding that 'mitigations or design alterations' might result.
Stuart Harvey, TfL's Chief Capital Officer, said: 'It will obviously be disappointing for customers that they will have to wait a bit longer for the new trains, and I regret that.
'But I would like to assure Londoners and visitors to our city that we are working extremely closely with Siemens to ensure that the new trains can be introduced as soon as possible in the second half of next year.'
Sambit Banerjee, the joint chief executive of Siemens Mobility, which is building the new trains, said: 'Any project like this is complicated – we're bringing state-of-the-art, air-conditioned, walk-through trains into tunnels that were built 120 years ago.'
Sir Sadiq's spokesman said: 'The Mayor will confirm plans for future fares in due course. However, the Government has been clear that the funding settlement assumes TfL fares will increase each year by RPI+1 for each year of the settlement.'
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