Olympic Cab Fare Rise Rejected

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Wednesday 2nd February 2012

The Transport for London Board has rejected a proposal to increase black cab fares by 22 per-cent during the 2012 Games.

The Licensed taxi drivers association wanted to introduce evening rates in the day time but Transport for London said, after consulting drivers, the vast majority were against the increase believing it would reflect badly on the trade.

The drivers we spoke to said he agreed with TfL's assessment.

"Why right have we got to put our fares up just because of the olympics," one told our reporter. "All we're going to do is cause a lot of criticism. People are going to say 'oh, greedy cab drivers, it's not right' - we're gonna lose business in the end so it's not going to do us any favours."

While another added, "why should I charge more? It's another week, another day - it's all it is."

The Board has approved a taxi fare rise over the next year of 5.3 per cent as part of an annual review - including adding 20p to the minimum fare.

In the last year the price of fuel and the cost of insurance have both increased by 16 per cent.  

John Mason, Director of Taxi and Private Hire at Transport for London, said: "The annual taxi fare revision considers a large number of factors that make up taxi drivers' running costs, including vehicle costs, parts, fuel and insurance.  Each year we strive hard to balance affordability with the increasing costs taxi drivers face in providing a unique and world renowned service to the capital.  The Mayor and TfL are convinced that the world famous knowledge that taxi drivers worked so hard to earn will play a key role this summer in transporting Games spectators and visitors around the capital. This increase will allow them to continue to do so while providing value for money to passengers."