THE NATIONAL TRANSPORT AUTHORITY (NTA) has recommended that taxi fares be increased by up to 12.5% in a new report.
The proposals, within the 2022 National Maximum Taxi Rate report, seek to increase the maximum price for taxis due to increased running costs for taxi operators since rates last increased in 2018.
The newspaper previously reported that taxi fares may have to increase due to higher fuel costs, with the cost of operating a taxi rising between 10.7% and 11.5% since 2017.
The price increase proposed by the NTA is between 11.7% and 12.5%.
“Today’s report provides an update on this and found that, overall, the costs associated with operating a taxi increased between 2017 and 2022 by approximately 11%,” the NTA said in a statement.
“The report recommends an increase in the maximum levels of taxi fares to reflect this.”
Along with the proposal to increase prices, the NTA is seeking to implement cashless payment options in all taxis. This measure was previously recommended in 2019, but was postponed due to the Covid-19 pandemic.
The NTA has said that due to the cost of implementing cashless payments, including hardware and transaction fees, an additional 1% must be added to the maximum fee.
This leads to the estimated price increase of 12.5%.
According to the NTA, cashless payments are being proposed as part of efforts to align taxis with other services, with card payments being the norm in shops and restaurants across the country.
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The price increase proposal is currently in public consultation until Friday, May 27 at 12:00.
Following consultation, the report will be brought to the NTA’s board of directors for consideration.
The Taxi Rate Review is carried out approximately every two years to assess the costs of operating in the sector.