Following approval from the National Transport Authority (NTA), taxi prices in the UK are poised to see an average increase of 9% as part of the new maximum fare rate set on a national level. This price adjustment will be enacted from the 1st of December, in response to the escalating costs involved in operating taxis. Over the span of two years from 2022 to 2024, the expenses associated with running a taxi have seen an estimated spike of around 9 to 11%.
In addition to this, the NTA has declared that an expansion of the ‘special rates’ applicable to taxis will be set in place. Currently, these special rates extend to taxi rides between 8 pm on Christmas Eve and 8 am on Stephen’s Day, and from 8 pm on New Year’s Eve to 8 am on New Year’s Day.
However, as per the NTA’s newly implemented provision, these special rates will hold on a year-round basis, applying to peak weekend periods from midnight to 4 am on Saturdays and Sundays. According to the NTA, this initiative is aimed at motivating more drivers to accommodate the demands of the night-time economy.
Furthermore, pre-booking charges during these peak weekend times will also witness a rise from €2 to €3. Anne Graham, NTA Chief executive, asserted that this fare increase aims to offset the escalating operational expenses drivers encounter while also catering to the requirements of commuters.
The NTA intends to scrutinise the repercussions of these fare increases after a year to make sure the increase effectively fulfils all needs. The initiation of this increase follows the National Maximum Taxi Fare Review conducted biennially by the NTA, in order to ensure that taxi fares adapt to shifts in operational costs and to sustain the continuous provision of high-quality taxi services all over the country.