The Mayor Boris Johnson has announced that bus and underground fares in London will increase by 6% in the new year. Some fares will be cut, with the introduction of a new off peak rate which is aimed at encouraging people to travel after 09.30. There will also be a new half price travel scheme for people on income support, the elderly and war veterans. The rise in fares will go towards helping to fund projects such as Crossrail and the improvements needed for the London Olympics.