TfL's business plan, to be considered by the board next week, includes the deferral by three years of all remaining station renewals which were to have been completed by the failed Tube maintenance company Metronet.
Work to upgrade one of the Tube's busiest stations - Victoria - will not now be completed until 2018 and there will be some limited bus service reductions and minor reductions in service on some parts of the Tube.
TfL said that Mr Johnson was still "minded" to scrap the western extension to the congestion charge zone and that he would be making a final decision next spring.
Mr Johnson was asked about the comparison with the Tube rises and the national main line rail fares which, under an inflation-linked formula, will actually go down in January.
He said: "I am afraid that fares on national rail are being depressed artificially for election purposes. These fares will inevitably go up after the General Election."
The budget deficit has also been hit by a fall in passenger numbers on London Underground due to the recession.
Passenger numbers on the Tube fell by 6.4% in August. The 190,000 fewer journeys was the biggest monthly fall in 20 years.
Labour's deputy leader on the London Assembly, John Biggs, said: "This is a massive kick in the teeth for hard-pressed Londoners at a time when many are struggling with the recession."
The mayor said he took no pleasure in raising the fares
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