Transport for London (TfL) experienced an estimated £84 million in lost revenue in 2023/24 due to the 60+ Oyster photocard. This free travel benefit allows London residents aged 60 and over to travel on TfL services at no charge, except during peak weekday hours. Campaigners for intergenerational fairness are calling for its elimination, while advocates for older people argue it prevents social isolation. The revenue loss is increasing annually, and TfL reports a shortfall of £23 million amid rising transport fares, which have recently increased by 4.6%.
The 60+ Oyster card resulted in Transport for London facing an estimated £84 million in lost revenue for the financial year 2023/24. This represented a significant increase from previous years, with losses of £71 million and £51 million.
Campaigners are urging the Mayor of London to eliminate the free travel benefit, arguing that struggling younger workers shouldn’t subsidize free travel for those above pension age.
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