After last Januarys price hike in the basic fare for bus journeys from 1 to 1.20, Londons bus and underground fares are set to increase again. A single bus journey will rise from 1.20 to 1.50 and a one-way underground ride in zone 1 will see a 50 percent rise from 2 to 3. However the price increase applies to cash journeys only and holders of pre-pay Oyster cards will actually see the cost of their journey reduced.
Amid a hail of criticism the mayor of London defended the fare changes, saying that the aim was to cut down on the number of cash journeys and increase the number of commuters using Oyster cards, claiming that this would speed up journey time and improve the efficiency of the London transport network.
However as Roger Evans, chair of the London Assembly Transport Committee pointed out, the British capital already has the most expensive transport system in the world, and the new fare increases would do nothing to encourage people to leave their cars at home in favour of public transport. Low-income earners will be particularly hard hit, as these fare increases follow considerable hikes in the cost of water, gas and electricity this year.