Last week many people’s attention was being devoted to the US Presidential result the Mayor of London decided to release details of fares rises for 2013, a decision described by Lib Dem GLA member Caroline Pidgeon as an attempt to “bury bad news”. 
 
Despite being granted a £96 million grant from central Government to keep fares down the overall fare rise is 4.2 per cent, including a 5 pence increase on an Oyster pay as you go bus fare and a 10 pence increase in single Zone 1 pay as you go fare on the tube.  A Zone 1- 6 singe fare will increase by 20 pence during peak times.
 
In addition to the fare rises the Mayor has also hiked up the costs of using the bike hire scheme.  From January, 24 hour access will increase from £1 to £2 and weekly access from £5 to £10.  Yearly membership is also being doubled increasing from £45 to £90.
 
Full details of all the fare increases, covering every zone and all forms of transport, can be seen here.