Mayor announces revised fares for 2012 after securing additional £136m government funding

Lower rises come at no cost to TfL, ensuring transport upgrades and frontline services protected in full.

The Mayor of London, Boris Johnson, today announced that fares on TfL's services for 2012 will rise by just above inflation, 5.6 per cent on average, after he secured £136m from the Government to help the Capital's commuters.

The lower than planned rise in fares will be entirely paid for by the additional funding provided by the Government and comes at no cost to TfL. 

This means there will be no impact on TfL's huge programme of investment in London's transport network or on essential frontline services.

As with any fares packages, some fares will go up by slightly more than RPI plus one per cent, and some slightly less. 

The single Oyster pay as you go bus fare now rises by just 5 pence, or only 3.8 per cent. 

The Weekly Bus Pass now rises by £1, or 5.6 per cent. 

Average Tube fares will rise by RPI plus one per cent (six per cent). 

Some Tube fares in Outer London will now be frozen at 2011 levels, while others - Oyster pay as you go peak zones 2-5, 3-6 and 2-6 - will rise by only four per cent, less than inflation.

All Travelcards and Oyster pay as you go caps will benefit from the lower rise in 2012.

The Day peak zone 1-4 Travelcard and cap initially planned to rise by eight per cent will now rise by six per cent and the 7 Day zone 1-2 Travelcard has been held down from an eight per cent increase to only 5.8 per cent.

All free and concessionary travel for older people, students, veterans and disabled Londoners remains protected in full, which means that 40 per cent of bus passengers will continue to travel free or at a substantial concessionary rate.

The average bus fare per journey, including concessions, will be around 60p, compared to an average typical bus fare of around £1 in other UK cities.

Mayor of London, Boris Johnson, said: 'Every penny of this cash injection will go towards keeping fares as low as possible.

'That is very good news in the current economic climate and even better the unprecedented level of investment to improve London's transport network will continue unabated.'

Full details of all TfL fares for 2012 are available on the Greater London Authority website.

Unprecedented investment in London's transport network will continue totalling £12bn over the Mayor's four year term.

This is an increase from an £8bn investment from the previous administration.

The current investment programme includes upgrades to the Tube, now carrying a record 1.1 billion passengers a year, delivery of Crossrail, and the maintenance of London's frequent, extensive, reliable and accessible bus network, which is now carrying almost 2.3 billion passengers a year - more than any other time since records began in the 1960s.

Further extensive improvements have also been made on the Docklands Light Railway (DLR) and London Overground, both of which are also experiencing record ridership.

Investment is vital for the transport network to continue to develop and improve and to meet future demand, which is set to grow yet further.

Over the last year alone, investment in London's transport network has delivered:

• The completion of the Jubilee line upgrade, delivering faster, more frequent and reliable journeys
• A full fleet of new trains on the Victoria line, delivering smoother, faster journeys for customers
• Further air-conditioned trains on the Metropolitan line, running into central London for the first time
• The completion of the DLR three-carriage upgrade, delivering a 50 per cent increase in capacity across the network
• The completion of the DLR Stratford International extension, with four new stations, delivering the final transport improvements required ahead of the 2012 Games
• The extension of the East London line to Highbury & Islington as the London Overground network became the most reliable railway in the UK
• New fully accessible lifts and the upgrade of Green Park Tube station, making this key interchange station for the 2012 Games step-free

Over the next year, sustained investment will see:

• The completion of the Victoria line upgrade, further increasing capacity and cutting journey times on the line
• The extension of the Barclays Cycle Hire eastwards, including securing future sponsorship, to the edge of the Olympic Park, almost doubling the size of the scheme
• The first of the Mayor's New Bus for London on the Capital's streets later this year
• The completion of the London Overground rail network, delivering London's first orbital railway and linking 20 of London's 33 boroughs
• The start of the introduction of new air-conditioned trains across the Circle and Hammersmith & City lines
• Work to improve the Metropolitan, Circle, Hammersmith & City lines
• Work continuing on the new signalling upgrade for the Northern line which will provide 20 per cent more capacity
• The upgrade of the A406 at Bounds Green to predominately two-lane dual carriageway to reduce delays and improve pedestrian and cyclist facilities
• The new Crossrail stations at Paddington, Bond Street, Tottenham Court Road, Farringdon, Liverpool Street and Whitechapel continue to progress with intensity, and the first of up to 3,500 people will be trained to work below ground at the Tunnelling and Underground Construction Academy in east London

• 2012 fares
• TfL's fares are based on the RPI figure for the previous July. In 2011, RPI in July was five per cent
• The average TfL fare paid per bus trip is calculated by comparing all ticket types - including Oyster pay as you go, single cash fares, bus pass season tickets and Travelcards, plus free and concessionary travel - with total bus passenger numbers
• The UK average bus fares have been calculated using Department for Transport statistics
• Bus and Tram, TfL Tube/Rail cash, Oyster pay as you go and Travelcard fares tables are below:

Bus and tram fares 2012

Adult pay as you go fares on TfL rail services

One Day Travelcards and caps

Travelcard seasons - 7 Day ticket prices

Adult Monthly Travelcard season prices are 3.84 times the 7-Day price (rounded up to 10p multiples).

Adult Annual Travelcard season prices are 40 times the 7-Day price.

Adult cash fares on TfL rail services