Sadiq Khan has warned that day travelcards are likely to be scrapped to save cash.
The London Mayor announced that he has begun the process to axe day travelcards on the London network, a move that would save Transport for London (TfL) £40 million but is likely to add to commuters’ costs.
He has started a six-month notice period to end its use, which could see some journey prices increase by as much as 36 per cent.
A spokesman for the mayor said he had reluctantly agreed to the proposal but had to do it in order to meet the deadlines in TfL’s funding deal, adding that the decision was reversible and the Mayor and TfL were seeking alternatives in the coming months.
Unions suspend Tube action
His announcement on Friday came after three unions suspended industrial action that would have shut down all of the Tube network for four days next week after TfL made a series of concessions over pay and pensions.
London Underground members of the RMT, Aslef and Unite all planned to take action over working conditions and changes to pensions, which would significantly reduce their income in retirement. The RMT was also taking action over plans to axe 600 station staff jobs.
However, they decided to halt this, with the RMT claiming union pressure had resulted in TfL making “significant concessions” with plans for jobs cuts and pension changes halted.