London taxi tariffs could increase by 11.64% in 2023 to help pay for rising driver costs

Taxi fares in London could rise by 11.64% across all tariffs in Spring 2023 if proposals are given the green light.

Transport for London (TfL) have opened up a consultation reviewing London taxi (black cab) fares and tariffs which are set to arrive in April 2023.

The public survey is looking to take in views on whether fares should be increased to take into account taxi drivers’ rising operating costs.

TfL are also proposing changes to the extra charge for booked taxis and the fixed-fare shared-taxi scheme that operates during the Wimbledon Tennis Championships.

There are FIVE options available to taxi drivers and the public to choose from.

Options one and two both propose offering cabbies the full increase based on drivers’ rising operating costs as part of the Cost Index. Option one would see 11.64% added to all tariffs, but the minimum starting rate would be frozen at £3.80.

Alternatively for Option two, all tariffs could rise 8.8%, but the starting rate would increase by 40p to £4.20.

Options three and four propose to freeze late night tariffs and partially increase daytime and evening tariffs by 7.61% and 4.02% respectively.

Option five proposes that all tariffs remain frozen at the current rates with taxi drivers picking up the full bill for the 11.64% increase in costs and inflation.