TUBE and train fares in London could be slashed on Fridays under a £24million plan by Sadiq Khan.
Mayor of London Sadiq Khan wants to reduce tube and train prices on Fridays[/caption]
This would require the support of the wider rail industry.
Peak fares apply on weekdays between 6.30am and 9.30am, and between 4pm and 7pm, on TfL and mainline rail services within London.
Someone commuting by Tube from Zone 6 into Zone 1 in central London at peak times currently pays £5.60 per journey.
Under the trial, this fare would be cut by £2 to £3.60 on Fridays.
Mr Khan is proposing to allocate £24 million from his budget for the 2024-25 financial year to support the Friday trial.
TfL statistics show midweek ridership on the Tube is at 85% of pre-pandemic levels, but the figure for Fridays is just 73%.
It is hoped increasing the number of workers going to offices on Fridays would raise revenue for the hospitality sector through additional spending on lunches, after-work drinks and evening entertainment.
Mr Khan said: “London has bounced back since the pandemic, but the lack of commuters on Fridays is a clear exception — with a knock-on effect on shops, cafes and cultural venues.”
Kate Nicholls, chief executive of industry body UKHospitality, said: “There’s no doubt that Fridays have suffered as a result of changes to working patterns since the pandemic, and hospitality businesses have felt that loss of commuter trade.
“Responding to these challenges with innovative trials like off-peak Fridays is exactly the type of flexible approach needed to boost journey numbers and stimulate footfall in our venues.”
The announcement of the trial comes a week after Mr Khan revealed TfL fares will be frozen until March next year, paid for by allocating £123 million of Greater London Authority funding.