Most public transport fares in London will stay the same this year, aiming to ease cost-of-living pressures and boost the retail and hospitality sectors, the mayor of the city said on Friday.
In London and across the UK, households have withheld spending as the cost of living crisis of the past two years has pushed up prices of everything from food to furniture.
"The cost-of-living crisis continues to hit Londoners hard," Mayor Sadiq Khan said, adding he was setting aside 123 million pounds ($156 million) to freeze transport fares until March 2025.
"Not only will this put money back in people's pockets, making transport more affordable for millions of Londoners, but (it) will encourage people back onto our public transport network."
The freeze will affect all bus, tram, tube and Docklands Light Rail fares, as well as the majority of fares on the new Elizabeth line and Overground trail.
The Transport for London operator had planned to increase ticket prices by 4%.
Despite the decision, the British capital still has the most expensive public transport fares in Europe. A Greenpeace report last year ranked London second out of 30 European capitals that are worst for access to public transport, behind only Dublin.
