January 28, 2024, 09:02 | Updated: January 28, 2024, 09:04
TfL fares are set to fall on Friday following a new court ruling by the Mayor of London.
Photo: Alamy/Getty
London Underground and train fares could be cut on Friday under a new £24m plan being trialled by Sadiq Khan.
The Mayor of London on Friday asked Transport for London (TfL), of which he is chairman, to scale back Tube and rail fairs on a trial basis in a bid to boost passenger numbers and the economy.
The three-month trial will see Friday fares at off-peak prices for commuters.
The trial is expected to boost revenue for the hospitality industry by encouraging employees to travel and then increasing spending on eating out for lunch or after-work drinks after Friday spending falls. There is.
London peak fares apply from 6.30am to 9.30am on weekdays and from 4pm to 7pm on TfL and mainline rail services within London.
Currently, commuters traveling by tube from zone 6 to zone 1 in central London during peak hours will pay £5.60 per journey.
Under the trial, this figure would drop to £3.60 on Friday, a saving of £2 per trip.
The Mayor of London has allocated £24 million from the 2024-2025 budget to support the trial, which will require support from the wider rail industry.
read more: Prime Minister Sadiq Khan freezes London Underground and bus fares until 2025 to support commuters
read more: Rwandan refugees come to UK while government insists East African country is safe for migrants
The trial will last three months.
Photo: Alamy
It comes as TfL figures show the number of people using Tube has fallen by 15% since the pandemic, and by 27% on Friday.
Mr Khan said in a statement: “London has really bounced back since the pandemic, but the absence of commuters returning on Friday is a clear exception, with huge knock-on effects for shops, cafes and cultural venues.” said.
“That’s why I’m asking TfL to trial off-peak fares on Fridays, and I’m encouraging Londoners to get involved.
“Whether experimentation is an effective way to increase passenger numbers and give business a welcome boost as we continue to build a better, fairer and more prosperous London for everyone. It will help you check.”
Kate Nicholls, chief executive of industry body UK Hospitality, said: “Fridays have undoubtedly suffered as a result of changes in working patterns since the pandemic, with hospitality businesses feeling the drop in commuter traffic.” he said.
“Responding to these challenges with innovative initiatives like Off-Peak Fridays is exactly the flexible approach we need to increase travel numbers and stimulate attendance at our venues.”
Khan hopes it will boost the economy.
Photo: Getty
This comes after the Mayor of London announced last week that TfL fares would be frozen until March 2025.
He said he was “not prepared to stand by” while passengers pay more for public transport.
The freeze applies to pay-as-you-go fares on buses, Tubes, DLR and trams, as well as the majority of fares on the London Overground and Elizabeth Lines.
Mr Khan said the cost would be met by allocating £123m of Greater London Authority funding.
Susan Hall, Conservative candidate in May’s mayoral election, described the fare freeze as “the final roll of the dice”.