London mayoral hopeful Stephen Greenhalgh renews pledge to cut Tube fares
London mayoral hopeful Stephen Greenhalgh has said there is “a deal to be done” between City Hall and the government to cut Tube and rail fares for commuters.
Greenhalgh, who will set out his new plan for London this morning at a rally outside City Hall, told City PM that he is confident that he could reduce Tube and rail fares in the capital by three per cent annually, saving the average Zone 1-3 Travelcard holder £900 during his first term in office.
Greenhalgh said he would compensate for the loss of revenue by selling off at least 1,000 acres of land currently owned by Transport for London, which he estimates will net City Hall £20bn over the course of four years.
Greenhalgh, who serves as deputy mayor for policing and crime, has also vowed to review bus routes to improve efficiency.