With so many startups, entrepreneurs and freelancers choosing London as a hub to grow their business from, it’s worth taking a second to see how the prices will change for travelling around London from the 2nd of January 2015.
From the Mayor’s desk and highlighted for emphasis:
Travelcard season ticket prices increase by slightly less than 2.5% on average, reflecting the link with National Rail fares and the latest general guidance from the Secretary of State for Transport that no regulated NR fare should rise by more than RPI in January 2015.
The bus PAYG single fare increases by 5p to 150p while the One Day Bus cap is frozen at 440p, 10p less than the cost of three single fares. A new One Day Bus and Tram Pass is introduced priced at £5.00. The Bus & Tram Pass season price increases by 4.0%. The overall increase in bus fares is 2.3%.
On the Underground, PAYG single fares in London increase by 10p except for off-peak fares outside of Zone 1 which are frozen.
To provide a better deal for part time workers, the all day multi-mode PAYG caps are reduced to become 20% of the 7 Day Travelcard price. For example, the Zones 1-2 all day cap falls from £8.40 to £6.40 while the Zones 1-6 all day cap falls from £15.80 to £11.70. The off-peak caps are withdrawn.
To fund these reductions and to encourage switching to Oyster and contactless, the Off-Peak Zones 1-6 Travelcard increases from £8.90 to £12.00 while the all day Travelcard range is simplified. The All Day Zones 1-2 Travelcard is withdrawn. The All Day Zones 1-4 Travelcard increases from £11.40 to £12.00. The All Day Zones 1 to 6 Travelcard is frozen at £17.00.
So depending how much you travel, and by what means, you could save a pretty penny using PAYG and the daily caps. A pdf containing all the changes and more legalese can be found on the link above to the Mayor of London’s website.
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