In it, he says:
“This fares package is designed to be fair to all Londoners, commuters and visitors. Some of us will pay a little more but I have ensured fares will remain affordable, especially for people who rely on public transport most, including the elderly, disabled veterans and those on lower incomes.
I have been left to tackle the unfunded legacy of Livingstone’s largesse. Put simply, the previous Mayor’s cynical and irresponsible pre-election fares freeze and support for unfunded transport schemes is unsustainable, and has produced a gap that has to be plugged. I’m determined to deliver value for money for London’s farepayers and taxpayers and that will mean some tough choices.
But let no-one be in any doubt. We’re investing billions to improve transport in London, prepare for 2012 and deliver Crossrail. This is a fares package that will sustain the investment needed to deliver the extra capacity and reliability that is vital for London.”
The full release is here, complete with details. Anyone good at sums?