Londoners will enjoy a welcome respite from rising costs as the Mayor announces an extension of the fare freeze on buses and trams, with single journeys remaining at £1.75 throughout the summer months. This decision builds on the initial freeze introduced in March 2024 and aims to provide financial relief and stimulate economic activity amidst ongoing cost of living pressures.
Millions of daily bus and tram users will benefit from consistent and affordable travel costs, with a regular bus user potentially saving over £50 during the summer period. This stability is particularly significant for those reliant on public transport for commuting, accessing essential services, and participating in London's vibrant events and attractions.
The Mayor has underlined the importance of making public transport accessible and affordable to support the capital's recovery and growth. By keeping fares low, the goal is to encourage both residents and visitors to explore London, boosting businesses in retail, hospitality, and entertainment sectors. This strategy aligns with broader efforts to ensure London remains an attractive and functional city for all, especially as tourism and local outings typically increase during warmer months.
Transport for London's data consistently shows that buses are a vital mode of transport for many Londoners, particularly those on lower incomes. Maintaining the £1.75 fare ensures this essential service remains within reach for a wide demographic, preventing potential financial barriers to travel and participation in city life. The fare freeze complements other TfL initiatives aimed at improving bus and tram services.
The targeted intervention focuses specifically on buses and trams – the most frequently used and often most affordable segments of London's public transport network – with the aim of having a tangible impact on household budgets across the city.