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London Introduces 4d. Minimum Fare
Page 62
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A LTHOUGH London Transport Board r3. is awaiting the final report of the 'Committee of Inquiry into pay and conditions before making any decision about long-term fares policy, it announced this week that the 3d. minimum fare (for journeys of one mile or less) will be increased to 4d, on March 1. The increase will apply both on buses and underground services but there will be no changes in other fare denominations or in the existing season ticket rates. The 3d. fare has remained unchanged since the beginning of 1957, but recent wage increases having added another £2-8m. to operating costs for 1964, the Board is making the 3d. to 4d. alteration in order to raise an estimated extra £2-7m. in a full year (about £2-2m. in 1964). The sum represents a three per cent increase in London Transport's total fares revenue.