Sadiq Khan Pledges £123M to Freeze TfL Fares Through March 2025

Sadiq Khan Pledges £123M to Freeze TfL Fares Through March 2025

London Mayor Sadiq Khan Announces Big Fares Freeze for TfL

In a move that feels more like a lifeline than politics, Mayor Sadiq Khan unveiled a full-year freeze on TfL fares today. The aim? To ease the spiralling cost of living for London’s commuters and help the city bounce back from the pandemic’s aftermath.

What’s the Big Deal?

The mayor is putting an extra £123 million into TfL’s coffers. That money could keep more cash in the pockets of everyday Londoners as food and energy prices climb. According to new analysis, if fares had risen with National Rail, they would have gone up by 4.9 % this year alone – that’s a potential 20 p lift each time you hit the tube. But with the freeze, commuters could save up to £90 a year on their daily rides.

Last week, the mayor also extended free school meals for primary children, showing that this isn’t a one-off. The freeze is the fifth one he’s rolled out – meaning transport in London is now ~21 % cheaper than it would have been had prices tracked inflation.

How the Freeze Helps Everyone

  • Pay‑as‑You‑Go (PAYG) commuters – 80 % of Tube trips and 74 % of bus journeys now use PAYG. Those who use it will all benefit.
  • Paper ticket users – Single and return fares are frozen too, so no one is left out.
  • Buses & the Hopper fare – Still at £1.75 for an unlimited journey within an hour. No extra 10 p bump, which could cost a weekday commuter an extra £50 a year.

Real‑World Savings – A Few Examples

  • Southall‑to‑Bond Street commuter (4 days a week) can dodge a 20 p rise on a peak PAYG ticket – ~£72 saved yearly.
  • Harrow‑on‑the‑Hill‑to‑Baker Street commuter (3 days a week) keeps 20 p per ride – ~£54 saved.
  • Hornchurch‑to‑Westminster commuter (5 days a week) saves a full 20 p on each peak trip – ~£90 saved.

More Than Just Fares: The Mayor’s Bigger Package

The freeze is part of a broader plan to tackle the cost‑of‑living crisis. Highlights include:

  • £3.46 billion to build affordable homes.
  • £400 million in skills and employment programmes.
  • Over £80 million to address fuel poverty.
  • Support for private renters and food insecurity.
  • An emergency fund of more than £3.5 million – already delivering 10 million free meals during school holidays and weekends.

Mayor Khan summed it up: “The cost‑of‑living crisis is knocking hard. By freezing TfL fares, we’re putting money back into people’s pockets, encouraging them to use public transport, and giving a boost to London’s culture, retail and hospitality sectors.”

As London pushes toward a fairer, greener future, making mass transit cheaper and more appealing remains a core part of the mayor’s vision.