London’s Mayor, Sadiq Khan, has officially announced today a groundbreaking trial set to commence next Friday, 8th March.
This initiative entails Tube and rail fares, when paid via contactless or Oyster cards, being set to off-peak rates throughout Fridays. The Mayor introduced this trial to assist Transport for London (TfL) and rail operators in evaluating the potential impact of off-peak fares on Fridays, with the goal of stimulating ridership and aiding London’s broader economic recovery.
Scheduled to operate for three months until 31st May, this trial holds significance for major cities globally as they seek strategies to rebound post-pandemic. This move follows the Mayor’s recent decision to freeze TfL fares until March 2025, offering relief to Londoners amidst the ongoing challenges posed by the pandemic’s aftermath.
During the trial period, pay as you go journeys made on Fridays using contactless or Oyster cards (excluding trips to/from Heathrow airport via Zone 1) will benefit from off-peak rates. Furthermore, the daily cap will be adjusted to reflect off-peak rates on Fridays, providing additional savings for commuters making multiple journeys throughout the day. However, bus and tram fares across London will remain unaffected, remaining at a flat rate of £1.75 regardless of the time of travel.
Additionally, as part of this trial, holders of the 60+ London Oyster photocard and Older Persons’ Freedom Passes will enjoy free travel all day on Fridays, extending support to this demographic.
To finance the trial, £24 million has been allocated from the Mayor of London’s recently approved budget. This funding will compensate TfL and rail operators for potential revenue loss during the trial period and cover associated operational costs.
The introduction of off-peak Friday fares holds significant potential benefits for London’s businesses and commuters amidst ongoing cost-of-living challenges. For instance, commuters from Uxbridge to Holborn could save £2 on their Tube fare, while those traveling from Newbury Park to Canary Wharf may save 90p. Similarly, rail commuters from Epsom to Waterloo could save £2.70 on their Friday journeys during the trial.
Mayor Khan expressed optimism that off-peak Friday fares could stimulate economic activity, particularly in London’s vibrant hospitality, business, and leisure sectors. With London offering a diverse array of attractions and events, he encouraged Londoners to embrace the #LetsDoFridays movement and capitalize on the city’s offerings.
The Mayor’s initiative received support from key stakeholders, including TfL, London & Partners, and various business improvement districts (BIDs) across London. This collaborative effort aims to promote exclusive offers and incentives to encourage participation in the trial and rejuvenate Friday footfall across the city.