London taxi fares to rise by two-and-a-half times inflation in bid to curb driver exodus

London taxi fares to rise by two-and-a-half times inflation in bid to curb driver exodus
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London taxi fares to rise by two-and-a-half times inflation in bid to curb driver exodus
Author: Ross Lydall
Published: Feb, 25 2025 16:32

Summary at a Glance

TfL said: “It is important that taxi drivers are fairly paid to try and ensure that taxi driving remains a viable career, licensed taxi drivers do not stop being a taxi driver and people will consider applying to become a licensed taxi driver.

“There could be an increased risk to the safety of some people if taxi wait times increase or they are unable to get a taxi; (f) the number of applications to be a licensed taxi driver and the number of newly licensed taxi drivers is very low.

A total of 27 per cent of taxi passengers had used an app for their most recent taxi journey, and on average 19 per cent of taxi drivers’ work was from taxi apps.

But separate research carried out by TfL found that 62 per cent of taxi users said they thought that in general taxi fares were too expensive, with 36 per cent saying they thought taxi fares were about right.

“If the number of licensed taxi drivers falls, then this could affect the supply of taxis and increase the risk that taxi users are unable to get a taxi or have to wait longer for a taxi.

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