Commuters from the Home Counties could face higher rail fares under proposals being considered by businesses as a way to ease the long-term funding crisis at Transport for London.
A report from London First today called for people living outside the capital but relying on its public transport network to make a “fair contribution” to its upgrade and expansion.
It follows a call from Mayor Sadiq Khan for “fiscal devolution” — allowing City Hall to retain some of the national taxes generated by the capital — to secure TfL’s finances.
A £1.6 billion government coronavirus bail-out will run out after this summer — presenting the first headache for incoming TfL commissioner Andy Byford.
Today’s report, which includes input from KPMG, the Infrastructure Projects Authority, TfL and borough councils, says the capital’s transport network will be unable to cope without secure income streams.
It says that fare rises, on top of the above-inflation hike on the Tube and buses due in January, will also be required.
The £31 billion Crossrail 2 route, linking Surrey and Hertfordshire via central London, is cited. It would potentially benefit thousands of commuters, but its funding is not secured.
Jasmine Whitbread, chief executive of London First, said to get TfL on a sustainable footing, a number of options may need to be considered, including “ensuring those who benefit from transport projects pay their fair share”.
