Bus and tube travellers in London are about to face a significant rise in prices which is well ahead of inflation. Across the board, prices are going to increase by an average of 4.2 percent, which is going to come into effect in early January 2013.
Boris Johnson made the announcement recently, and he also said that the price of renting one of the Boris bikes in London is also going to increase, with an increase from £1, to £2, with yearly membership increasing from £45 to £90.
As this is an average figure when it comes to chew prices, some trips are not going to be affected, but some are going to increase in price dramatically. Some fares will see an increase of well over 4.2 percent, which is going to have a significant impact on some people who use the London Underground on a regular basis.
Mr Johnson recently issued a statement which read, “These price increases are going to be because I want to announce investment in the transport network in the city, plans of which I am going to be releasing at the end of the year.
I want to make the public transport system more reliable, more frequent, and easier to use. I recognise that the transport system in the city is absolutely essential to London’s economic development, and it is vital to the growth of our great city.”
Mr Johnson continued, “I have recently secured over £100 million of funding, which is going to help keep the prices as low as possible, and protect the most vulnerable people in London. The fare increases are something that are necessary despite this funding, and are an unfortunate part of the transport system in the city, but I’m afraid there’s nothing I can really do to prevent the increases.”
