The London mayor's transport organisation is to impose the biggest real-terms fare increases in its history as it seeks to plug what it claims is a £1.7bn "black hole" in its budget.
Underground fares will rise by an average 3.9 per cent from January, while bus fares will go up by 12.7 per cent. Boris Johnson, the mayor, said the increases were comparable to those in 2005 and 2006 under Ken Livingstone, his predecessor.
