He has reduced Oyster fares for next year while increasing cash fares to encourage more people to make the switch.

BBC: An 'oyster' travel card, sitting on top of a card reader

Buses will accept cash fares as the 420 tickets machines are removed.

BBC: London bus ticket vending machines may go from 2013

Only 1% of passengers pay cash fares now compared with 20% when the machines were introduced in 2003, as people go for cashless options.

BBC: London bus ticket vending machines may go from 2013

Metro cash fares are to go up by 10p per journey, but Metro Smartlink multi-journeys are to remain the same, the transport firm said.

BBC: Translink face fare hike pressure