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Fares could increase across public transport as part of plans to balance Transport for London’s (TfL) budget.

 

The transport authority has announced that from 2021 fares could increase by 1% above inflation.

About 2,500 jobs are at risk as TfL looks to cut 30% from its back office budget, BBC London’s transport correspondent Tom Edwards said.

Infrastructure projects such as work to ease overcrowding at Camden Station and deep-line signalling have been paused.

TfL said it had received an average cut of £700m per year in government funding.

It added that in recent years Londoners were making slightly fewer trips each per day, leading to reduced income from fares.

Overall, it has forecast income from fares over the next five years will be about £2.1bn lower than originally expected; a reduction of 7%.

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