The move is due to be rubber-stamped by the Transport for London board next week alongside plans to defer by three years all remaining former Metronet Tube station renewals.
TfL is facing a funding crisis in the wake of the collapse of Metronet and a fall in commuters caused by the recession which prompted the Mayor to announce a package of fare rises today.
Johnson said: "Nobody wants to make an announcement like this, especially when Londoners are feeling the effects of the recession.
"With this package we can go forward to deliver the vital improvements that Londoners deserve - including Crossrail, the upgrade of eight Tube lines, new trains, the cycling revolution, and a host of other improvements ahead of the 2012 Games.
ADVERTISEMENT "I know that Londoners value hugely the expansion of, and improvements to, the buses and Tube and the free or concessionary fares available for many passengers. I share that view. Yet it is now clear to everyone that the era of ever-rising funding from the taxpayer is now firmly at an end."
TfL secures £1bn Crossrail loan dealPeople heed recession’s money lessons
