In a bid to help Londoners with the rising tube fares, London’s travel watchdog has called for interest-free loans for annual travelcards.
An annual survey by London TravelWatch found that commuters could save up to £400 a year by buying an annual ticket but most don’t buy it as it’s unaffordable.
An annual travel card from zones 1-6 costs over £2,200.
Stephen Locke, London TravelWatch chairman, said: “We hope that the publication of our research will start a wide-ranging debate about what can be done to give all who travel in London a better deal. With ticket prices rising above inflation and people’s incomes remaining static or falling in real terms, it is more important than ever to ensure that transport users know how they can get the best ticketing deals as well as getting additional value from tickets they have already bought.”
Shashi Verma, TfL’s Director of Customer Experience, said: “We offer a wide range of ticket types, including discounted monthly and annual season tickets, to give our customers the flexibility to chose which is best for them. The cost of providing further discounts through financing options would inevitably result in increases to other ticket types to balance this out.”