Tube and rail fares in London will go up by 4.6% from next March, the capital’s mayor has said.

The hike matches the rise in regulated train fares for England’s mainline railway.

From 2 March, Transport for London’s (TfL) daily caps will increase by 40p-70p, depending on what zones are travelled through.

Labour mayor Sadiq Khan said ministers had told him a rise was necessary to secure “funding for key transport projects”.

Meanwhile, London bus and tram fares will be frozen at £1.75 for unlimited journeys within an hour.

Mr Khan said: “Londoners know from my record that wherever possible I’ve made TfL fares more affordable and fairer for Londoners – whether through the introduction of the Hopper bus fare or freezing TfL fares for five years as mayor.

“Following the government’s budget, ministers made clear that to secure national funding for key transport projects in the future, TfL Tube and rail fares would need to increase in line with national rail fares.

“Vital national government funding will allow us to progress exciting future projects, such as Superloop 2 and more upgrades to the Tube network, as we continue building a fairer, safer and greener London for everyone.”

A Department for Transport (DfT) spokesperson said that during October’s budget, Chancellor Rachel Reeves announced TfL would receive nearly £500m in additional funding.

Raising fares was not a condition of funding announced in the budget, DfT stated.

UK rail travel ‘particularly costly’

The hike to Tube and rail services, in the capital and England, comes after analysis found train operators serving the UK are the most expensive in Europe.

Campaign group Transport & Environment said Great Western Railway fares are two-and-a-half times higher than the average across the EU and Swiss operators for routes of similar lengths.

Also, Avanti West Coast passengers pay one-and-a-half times more.

The group, which analysed 27 European operators, said “travelling by rail in the UK is particularly costly”, and high infrastructure costs and “private monopolies” have “a responsibility” for this.

Great British Railways – a new public sector body to hold responsibility for rail infrastructure and train operation – is set to be operational in the UK by the end of 2026.

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A DfT spokesperson said: “We are committed to the biggest overhaul of our railways in a generation, from delivering better services to simpler ticketing.

“While some of our fare types are among the cheapest in Europe, particularly when booked in advance, we know the labyrinth of fares and prices can be confusing, which is why we want to simplify fares so it’s easier for passengers to find the right ticket for their journey.”