Taxi fairs in London are to rise by 3.1%, less than the rate of inflation, it was announced yesterday.
The new fares will come into effect on Saturday, 14 April 2007 and follow consultation by the Public Carriage Office with the taxi trade and others including London Travelwatch.
The rise is intended to take into account increases in taxi operating costs and increases in national average earnings.
Ed Thompson, Director of Taxi and Private Hire at the PCO, said: “These new taxi fare levels take into account the growing costs of running a black cab. Taxi drivers are self employed, meaning they earn less if operating costs increase”
Mr Thompson said the increase would mean “London taxis continue to offer good value for money.”