London bus and Tube fares to rise by 10p next month as Sadiq Khan hikes prices

LONDON bus and Tube fares will rise in a fortnight with Sadiq Khan hiking prices as the cost of living bites.

Tickets for the London Underground in Zone 1 will rise by 10p to £2.50 from March.

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Bus and tram journeys will go up the same amount to £1.65, and the daily cap is being raised by 30p to £4.95. 

The Labour Mayor insists the rises are needed to plug the gaping black hole in TfL's finances and were a condition of the Government's bailout.

But Londoners will grapple with the further squeeze on their wallets as they brace for higher living costs this spring.

Mr Khan said: "Since TfL's finances were decimated by the pandemic, the Government has set strict conditions as part of the emergency funding deals to keep essential transport services running in London. 

"We have been forced into this position by the Government and the way it continues to refuse to properly fund TfL, but I have done everything in my power to keep fares as affordable as possible."

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It is the second time Mr Khan has hiked fares after promising to keep them frozen when first elected in 2016. 

National rail fares are also set to rise by 3.8 per cent in March further piling on the cost for commuters.

The hikes will come in as Brits ahead of soaring energy bills after Ofgem hiked the price cap by £700.

In April National Insurance Contributions will also go up by 1.25 percentage points.