TfL fares to rise in March, as report reveals ‘£2bn funding gap’

Fares on Transport for London services will rise by 2.6 per cent in general on 1 March, but the mayor of London Sadiq Khan says some single pay as you go fares will not change. The rises are the first since before the present Mayor was elected in 2016. He had promised a four-year fares freeze, which was achieved, but the 2021 rises are a condition of government support since the pandemic began. TfL has renewed its call for longer-term government support, to ‘provide certainty to its supply chain and enable TfL to support jobs’. The appeal has been made as a new report published by business campaigning group London First and engineers Arup claims that TfL is facing an annual funding gap which could be as high as £2 billion.