Ken Livingstone says he has a 25-year record of cutting fares

Single fares on buses, the Tube, tram and the Docklands Light Railway network will be held at their current prices from January next year.

Travelcards, however, will rise in line with inflation at 3.8% as these fares also apply on National Rail.

Critics say the freeze will make little difference because of above-inflation prices hikes over the past three years.

Travellers paying for an Oystercard peak single fare will continue to pay 90p, while the single cash fare is frozen at �2.

Electioneering denied

Just over two per cent of bus journeys are now paid in cash.

The One Day Bus Pass is also frozen at �3.50.

On the Tube, single fares will be frozen, with the price of a single journey in central London being held at �1.50 when using an Oystercard, and �4 when paying by cash.

About three per cent of Tube fares are now paid in cash.

Prices have gone up by more than the rate of inflation in the past three years so we already have a very expensive public transport system Roger Evans, London Assembly Conservatives.

Mayor Ken Livingstone denied he was trying to win votes ahead of the 2008 mayoral elections.

"You have a 25-year record of me cutting fares whenever I've got the chance," he said.

"Fares on the tube are one per cent more in real terms than they were when I was elected and they are about 10 per cent less on the buses in real terms."

But opposition politicians said recent price rises would continue to make fares in London expensive.

"It is good for Londoners to have their prices frozen," said Roger Evans, from the London Assembly Conservatives.

"But we've got to bear in mind that that they have gone up by more than the rate of inflation in the past three years so we already have a very expensive public transport system here."