London Mayor Sadiq Khan has set out a savings programme for Transport for London (TfL) to fund a fares freeze that will last until 2020.
The move promises to benefit millions of Londoners who use the London Underground, TfL rail services, buses and trams - but will not include hundreds of thousands of commuters using travelcards.
How much will Londoners save?
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This depends on how much they use public transport system and what kind of tickets they buy. TfL estimates that an average household will save around £200 over four years, while regular users of the bus and tram 7-day pass will save around £400. A single bus fare costs £1.50, up from £1.35 four years ago, and will stay the same until 2020.
However, the freeze does not include travelcards or the pay-as-you-go daily and weekly caps, meaning hundreds of thousands of commuters will miss out on the savings.
London Assembly Conservative group leader Gareth Bacon has accused Khan of "breaking his biggest promise" to those who showed faith in him.
How will the savings be covered?
TfL estimates the cost of the fares freeze to be around £640m over the four years. It is carrying out a "root and branch" review to identify savings, but has promised this will not impact vital investment.
Savings for at least the first two years are expected to come from organisational restructuring, cuts to expensive agency staff and better value procurement.
London's transport commissioner Mike Brown is one of around 70 senior staff members whose base pay will be frozen for Khan's full mayoral term.
What else will change?
Plans for a one-hour "Hopper" bus fare will be introduced this September, allowing anyone with a pay-as-you-go Oyster card or contactless payment card to make two bus or tram journeys for the price of one within an hour. The ability to make unlimited bus journeys within an hour will be delivered by the end of 2018.
TfL's £2bn-a-year investment programme will also deliver Khan's manifesto commitments to take forward Crossrail 2, upgrade London Underground lines, invest in cycling and improve the capital's road network.
