SHARP DECLINE: TfL issue less than 3,000 London taxi driver licences in last financial year prompting fresh concerns
A significant drop in the number of London taxi drivers renewing their licences has sparked renewed concerns about the long-term future of the trade.
Figures from Transport for London (TfL) revealed that just 2,992 taxi drivers were isssued new or renewed licences during the 2023/24 financial year. Taxi drivers must renew their licences every three years to continue their role as a hackney carriage driver in the capital.
This decline highlights the ongoing issue of a shrinking workforce, with the current number of licensed cabbies standing at 17,089. Just five years ago, in March 2019, this figure exceeded 23,000. The steady reduction is becoming an ever-present concern for the industry, which relies on a consistent number of drivers to meet the demands of London’s passengers.
The data, obtained through a Freedom of Information request, also shows that TfL collected over £23 million from taxi and private hire licensing in the same period. Each licensed taxi driver holds a three-year licence upon renewal or when first issued their badge. Last year’s renewal figures suggest a potential long-term problem, should that figure be repeated in the years ahead.
One of the key issues facing the industry is the number of new drivers entering the trade. The Knowledge of London, the demanding process prospective taxi drivers must pass to obtain their licence, has seen a steady drop in applicants. Fewer students are signing up, and even fewer are completing the gruelling process, raising concerns about how the trade will replace those leaving or retiring.
What Can Be Done to Boost Driver Numbers?
To address the decline in driver numbers, the taxi industry needs to focus on attracting more people to undertake the Knowledge and ultimately get behind the wheel. There are several avenues that can be explored to revitalise the flow of new drivers.
Firstly, promoting the profession to a targeted audience is key. Many prospective drivers may be unaware of the potential benefits of becoming a London taxi driver, which include the flexibility of self-employment and the ability to work in one of the most iconic trades in the world. By raising awareness and highlighting these advantages, more people might be drawn to the profession.
There’s also an opportunity to modernise the Knowledge process itself. While the Knowledge remains a rigorous and necessary test of a driver’s ability to navigate the capital, making the process more accessible and providing greater support to candidates could help encourage more people to take it on. The key is to make the testing quicker, not easier.
Lastly, there needs to be a focus on supporting drivers already in the trade. Ensuring that existing drivers are encouraged to stay, and providing incentives to renew their licences, will be just as important as attracting new drivers. TfL and industry bodies should work together to ensure drivers feel valued and that their working environment remains attractive and sustainable.
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