Inflation busting fare rises cannot be justified – Caroline Pidgeon

August 19, 2014 7:14 PM

Caroline Pidgeon AM, Leader of the Liberal Democrat London Assembly Group and transport spokesperson, commenting on the publication today of July's inflation rate, which is used as the benchmark for 2015 Transport for London fares said:

"The fall in inflation last month is obviously welcome however a rise in TfL fares by inflation plus 1 per cent cannot be justified next year.

"High levels of capital investment must be sustained in London's transport network to continue tube upgrades and deliver new transport schemes, however this can take place without huge fare rises which far exceed the very small increases in pay being received by most Londoners."

"There are huge savings Transport for London could make in items such as telecommunications and perks for senior staff, including those at Crossrail. Making these savings must be the first priority of the Mayor if he wishes to avoid an inflation busting fare rise in 2015."

ENDS

Notes to editors:

1. Information about Transport for London's excessive expenditure on telecommunications has been criticised by the watchdog IIPAG (Independent Investment Advisory Group):

http://www.standard.co.uk/news/transport/tfl-must-slash-200m-bill-for-telecommunications-contracts-9620240.html

2. Details of the remuneration received by senior Crossrail staff (a wholly owned subsidiary of Transport for London) can be seen here: http://www.tfl.gov.uk/cdn/static/cms/documents/board-20140703-part-1-item06-annual-report-and-accounts-2013-14.pdf (page 131)