London taxi fares 'increasing'

Date: 3/2/2011

Taxi drivers are striking a balance between offering an affordable service and covering their running costs by putting up their fares by below the rate of inflation.

Transport for London (TfL) states that for the 2011-12 financial year, the average cab fare will rise by 2.7 per cent, as it claims that taxi drivers in the city face "disproportionately high work-related costs", when compared to other workers in the capital.

Following a consultation between TfL, London TravelWatch, the London Chamber of Commerce and Industry and other interested parties, the increase in fares was calculated, taking into account the rise in fuel and operating costs.

John Mason, Director of Taxi and Private Hire at TfL, said: "This year's moderate increase continues to seek to cover increases in the cost of running a London taxi, while providing passengers with value for money for the journeys made in London's world-famous black cabs."

Meanwhile, more sustainable forms of transport in the capital appear to be proving increasingly popular, with TfL revealing that in its fist six months, Londoners using the Barclays Cycle Hire scheme have cycled 10,000,000 km.

Posted by Mary Treen