London public transport fares to rise by 7 per cent in 2012

Passengers on London’s transport network face fare increases of around seven per cent from January next year.

Transport for London (TfL) said the inflation busting hike was needed to maintain investment in the network.

The Tube, London Overground, Docklands Light Rail (DLR), boats and tram services will all be affected.

Free and concessionary travel for older people, students, veterans and disabled Londoners will remain in place.

London mayoral candidate, Ken Livingstone, said the rises were “absolutely staggering”.

Announcing the fare increases, Mr Johnson, said: “I understand that any increase in tough times is difficult.

“This is a package that has sought to balance the needs of today’s passengers whilst ensuring we continue apace with plans to overhaul London’s transport system in the face of unprecedented demand.”