This is incorrect. 40% of 'Transport for London' (TfL) spending comes from fares, and approx. 27% from government [0]. That represents a real cash subsidy of £3.1B per year for londoners.
The disparity in infrastructure spending per resident is even more stark [1]. London receives more than half of all such spending in England despite containing less than a sixth of its population.
[0] https://tfl.gov.uk/corporate/about-tfl/how-we-work/how-we-ar... [1] http://www.theguardian.com/news/datablog/2014/aug/07/london-...