London Mayor Ken Livingstone has announced that users of the 'oyster card' travelcard will have their bus fares cut by 10 per cent from a pound to 90p. As head of the GLC in the 1980s, Livingstone famously piloted cheap public transport fares with his 'Fare's Fair' policy. Transport for London (TfL) say they can afford the thirty million pound cost of the fare reduction because buses have become more popular.