£45m for LT in fare rise
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FARES on London Transport buses and trains will be going up by an average of 25 per cent later this year following Greater London Council approval for the scheme which came last week.
The increase will give LT around £45m extra in revenue and it now hopes to meet its budget for the year. A spokesman for LT said that there was usually a small drop in passengers when fare increases were announced. "But we recover some of this and the drop is borne in mind," he added.
The increase will come into effect for buses on June 20 and for trains on July 18. Season tickets and the rover tickets will be going up on October 31.
The issue was on the agenda for a meeting of the full GLC last week when Left-wing members of the council fought the increases and in some cases abstained from the vote.