Several trusted trade sources have revealed that taxi drivers in London could see an increase of 3.6% on average taxi fare.
The updated tariff proposed for April 2018 includes a 40p increase to the flag-fall and a 0.6% increase on the distance covered.
The increase would mean the meter in the capital starts at £3 instead of the current respective £2.60.
Tariff changes in London are made by the regulator Transport for London. The changes follow an equation called “cost indexing” which takes into account the expenses associated running a taxi.
As initial vehicle costs rise due to the introduction of the new LEVC electric taxi the increase should not come as a surprise.
However any increase to the tariff is expected to come under scrutiny by the local press and competitors.
This news follows a 2.5% increase to taxi fares in Glasgow who use a similar costing structure.