London Underground Fares Foing Up in 2011

... and many fares on the trains.... .... and the VAT ..... and a number of "sin taxes".... We, like many other places, are now under an austerity budget, which means we are paying off debt from the bank fiasco by cutting back on lots of stuff....

My cousin just returned from London, where she said the VAT will increase 20% next year. I really feel for you guys over there. We thought we had it bad here in the states!

Cindy, To clarify - the VAT is rising to 20% (from 17.5%), not rising by 20%. Thanks for your sentiment.

Hadn't it been 20% several years back?

No, its never been 20% in the UK. Its that in many parts of Europe but has never been that high here. Basic rate in the UK was set at 10% when it came in, then 15, and 17.5 in 1991 where it has stayed except a brief flirtation with 15 last year when Labour wanted to be reelected. There was a very brief point at the beginning where there was a higher rate on premium goods like electronics.

Got pay for improvements required to host the 2012 Olympics too.

Just an example what this increase looks like... a zones 1-6 Travelcard used to cost £7.50 is now £8. Ouch, especially for those of us in the public sector who have had their pay frozen for the past 2 years.

My first time in England was in mid-June 1971, 17 June at Gatwick to be exact. The exchange rate was one quid equaled $2.40, which is what I paid for a bed, dorm style, in a London hotel, shared WC and shower down the hall, in King's Cross,... a cup of tea was 4 or 5 pence...never forgot that.

And when I was a kid, you got 4.5 sterling for a buck, my allowance was 40 pesetas (another buck) a week and I couldn't use it up so every couple of weeks I just declined to get paid. And when I first started using the yen, it was 360 for a buck. Woe is me, I should have never growed up.

So that's why the rates have changed Ed! You grew up! It's all your fault then!! ;-))

The pound has always sold for more than one dollar, at least in the modern era. At its weakest, in 1985, it went for $1.05.