London businesses have been urged to tell staff to get back into the office five days a week after Sadiq Khan confirmed tube fares will be off-peak on Fridays.
The initiative from London’s mayor will encourage commuters to abandon the pandemic-era working from home on a Friday, which has badly hit the hospitality sector.
As part of the offer, London Underground and rail fares on pay as you go and Oyster will be off-peak all day on Friday, starting from 7 March.
The three-month trial until 31 May will look to help TfL better understand if off-peak fares would boost ridership, which has badly suffered on Fridays since the pandemic.
It could also be viewed as a benchmark for other cities which have been experiencing similar dips in ridership.
This comes after Sadiq Khan said he has frozen TfL fares until March 2025, amid the cost of living crisis.
His critics have argued he has taken action on tube fares too late, and the announcements are cynically being made before the 2 May mayoral election, which he is ahead in the polls for against the Tories’ Susan Hall.
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Currently for an average commuter, peak fares for pay-as-you-go Tube-users apply between half-six and half-nine in the morning, rush hour; and then between 4pm and 7pm.
TfL said making journeys off-peak on a Friday ”will make it cheaper for people to travel – potentially supporting economic growth by encouraging more people back onto public transport and into the office on a day that is currently quieter than other weekdays.”
In the agreement between TfL and train companies, the daily cap will also be changed during the trial period to help those making multiple journeys, as well as 60+ contactless card and Oyster users, who will be able to travel for free during peak hours.
TfL said the trail would be funded with £24m from the Mayor’s budget, with rail firms and the network compensated for lower revenue.
This comes after a warning, from London’s real estate sector, which has launched fresh calls for a long-term funding package for TfL ahead of the upcoming Spring Budget.
The London Property Alliance, which represents over 400 real estate developers, investors and advisers, said the cash would ensure “critical” upgrades are delivered while supporting the return of workers and visitors to the capital’s city centre following the pandemic.
How much will you be paying on a Friday then?
Someone commuting in from Uxbridge, in Zone 6, into the City’s Holborn Zone 1 would currently pay £5.60 for travelling on the Tube on a Friday during peak hours.
This trial would reduce the fare to just £3.60, saving them £2.
Meanwhile, someone in Newbury Park, zone four travelling to the banking district of Canary Wharf in zone 2, would save 90p, with it being reduced from £2.80 down to £1.90
Perhaps the biggest beneficiaries are those living outside of the capital, however. National Rail users will gain from the trial, with someone commuting from Epsom to Waterloo having a regular peak fare of £8.80 reduced to £6.10 on a Friday – saving them £2.70. TfL said the savings would be doubled if the return journey is made in evening peak hours too.
Despite the feather in the cap of some London commuters on a Friday, they still face soaring prices for pints, which are now regularly above £7 in the City.
Khan hopes the trial will encourage more London workers back to the office on a Friday, with a view to also encouraging support for the hospitality industry, which has suffered immensely since Covid.
Industry bodies representing bars, pubs, restaurants, live music venues and theatres have welcomed the move, while the Mayor of London, Sadiq Khan said: “I’m doing all I can to support Londoners through the cost-of-living crisis and to support London’s economic recovery. This includes freezing TfL fares for another year to make transport more affordable for millions of Londoners and to encourage more people to use our transport network. But I want to do more.”
“Encouraging more people back into the city on Fridays could give a much-needed boost to the hospitality, business and leisure sectors, supporting London’s wider economic growth.
Jacqueline Starr, chief of the Rail Delivery Group, said: “We want more people to use rail. We’re pleased that train companies are able to work with Transport for London to offer this trial to customers and we hope it will encourage more people onto trains in the capital.”
City of London Corporation policy chairman, Chris Hayward, said: “This is a welcome move”.
“The capital has a first-class visitor offer, with unparalleled history, cutting-edge arts, and outstanding attractions.
“This agreement could deliver a significant boost for London’s pubs, cafes, restaurants, and cultural sector. Slashing travel costs will encourage even more people to enjoy our great capital – and support our businesses – as footfall continues to reach its steady rise back to pre-pandemic levels.”
Ruth Duston, chief and founder of Primera, which operates 12 central London Business Improvement Districts, added that “it is fantastic to see that our calls for bold action have been heard.
“Across the BIDs Primera operates, which span the whole of Zone 1, there is no doubt that Fridays are still noticeably quieter than the rest of the week.”
Meanwhile, Ros Morgan, chief of Heart of London Business Alliance, said it was a “welcome announcement” which will “attract more people to the West End. It has the potential to provide a huge boost to our businesses, particularly in the hospitality, retail and cultural sectors.””