The new fares will take effect from Sunday 4 January 2004 and offer substantial benefits for families, with a £1 Day Travelcard for children and free weekend travel for under 5's. Under 11's will travel for free on buses and Tramlink at all times.
Passengers using Pre Pay on the Oyster card will continue to pay 2003 prices for adult single journeys on the Tube and DLR and reduced fares at the weekend. For those who choose to pay by cash, the cost of a Zone 1 Tube fare will rise to £2. Other fares to Zone 1 will rise by up to 20p.
Ken Livingstone, Mayor of London, said: 'The new fares package is designed to speed up buses and reduce queues at Tube stations by encouraging people to pay in advance of their journey. Those using the Oyster smartcard or bus saver tickets, which will now be available at every Tube station, will pay 2003 prices this year.
'It will also help families - with free travel for all children under 11 on the buses and, at weekends, free travel for under 16s on the Tube, buses, DLR and Tramlink when they travel with an adult using the family Travelcard.'
From 2004 a flat fare of £1 will apply for adults on all bus and Tramlink services. On the buses, passengers will pay only 70p per journey if they buy Bus Saver tickets in advance. Later in the year, Oyster Pre Pay will be introduced on buses, allowing passengers to pay the same 70p price.
The cost of bus trips outside central London will increase from 70p to £1 for those paying cash. This is part of the policy to take cash off of the buses by 2005/06 making journeys quicker and drivers safer.
A fares booklet for 2004, which sets out the new fares package for London, is currently available from Tube ticket offices and at www.tfl.gov.uk
Using the Oyster smartcard
Family friendly tickets
1. Tables showing of all the revised 2004 Tube and Bus fares accompany this press notice.
2. The Mayor has frozen bus fares in London for four years. The current fares structure has been in place since January 9, 2000.
3. The total predicted net revenue increase from the revised fare structure for 2004 is: