If Transport for London approve a new flag-fall rate and increased fares for day and evening times for the capital's licensed taxi trade, drivers will enjoy a raise of nearly two per cent.
General Secretary of the Licensed Taxi Drivers' Association (LTDA), Steve McNamara, said: “We are pleased to be able to keep it down to a level that is less than inflation.
“It’s not a game changer. In return, our customers are getting a 21st century vehicle driven by someone who knows where he is going, who is insured, and the person driving the vehicle is the person meant to be driving the vehicle.”
The rise, which will be the first since April 2018, is expected to be considered modest and a “good compromise” in return for the millions invested by drivers in electric cabs.
If TfL’s finance committee approves the new fares for black cabs next Wednesday, the minimum fare will rise 20p to £3.20 and the day-time tariffs (between 5am and 10pm) will increase 1.9 per cent.
The premium-rate night tariff, known as rate 3 for journeys between 10pm and 5am, and the rate for journeys over six miles will be frozen.
If approved, the new fares will start on 11 January.
According to a report on the Evening Standard, TfL said the new fares struck an 'appropriate balance between drivers being fairly remunerated and taxi users getting fair, reasonable and affordable fare'.
Image credit: Taxipoint