A key question that many Londoners will be asking ahead of the Mayor’s 2024/25 budget is what level of fare increase will be imposed on the Transport for London (TfL) network.
TfL’s budget submission’s projected 2024-25 passenger income of £5,647 million, which represents a seven per cent increase on the £5,256 million forecast for 2023-24.[1] This will be driven by a combination of higher fares and growing ridership.
The London Assembly Budget and Performance Committee will meet tomorrow to quiz senior TfL officers on their 2024/25 budget submissions, including what level of fare increase should be expected.
The Committee will also investigate how TfL aims to increase ridership to pre-pandemic levels and what effect the expanded ULEZ will have on next year’s budget.
Guests include:
- Seb Dance, Deputy Mayor for Transport
- Andy Lord, TfL Commissioner
- Patrick Doig, TfL Group Finance Director and Statutory Chief Finance Officer
- Rachel McLean, TfL Chief Finance Officer
The meeting will take place on Tuesday 19 December 2023 from 10am, in the Chamber at City Hall, Kamal Chunchie Way, E16 1ZE.
Media and members of the public are invited to attend.
The meeting can also be viewed LIVE or later via webcast or YouTube.
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Notes to editors
- TfL Mayor’s Budget 2024/25 (December 2023), p11
- View the agenda in full.
- Neil Garratt AM, Chairman of the Budget and Performance Committee, is available for interview.
- Find out more about the work of the Budget and Performance Committee.
- As well as investigating issues that matter to Londoners, the London Assembly acts as a check and a balance on the Mayor.
For more information, please contact Tony Smyth in the Assembly Media Office on 07510 488715. For out of hours media enquiries please call 020 7983 4000 and ask for the Assembly duty press officer