The Australian Newspaper reported today that a billion-dollar compensation package is being developed by the NSW Government for the Taxi Licence Owners in NSW, who have suffered a loss in value of their Taxi Licences, since the NSW Government changed the rules governing the Taxi Industry in 2016. The NSW Taxi Council has requested a meeting with the NSW Government to provide more details on the news story published by the Australian.
Martin Rogers – CEO, NSW Taxi Council said, “We welcome the news that the NSW Government is considering an increased compensation package for the NSW Taxi Industry. We need to see the details of the package to see what it means for each of our members, the Taxi Licence Owners across NSW. We would like to thank our members across NSW – the Taxi Licence Owners for their continued support in bringing this matter to the awareness of their Local Member of Parliament.”
The NSW Government destroyed the savings of taxi licence owners in how they legalised rideshare in 2015 and subsequent reforms in 2016 and fair and proper compensation, is the vital, first step for the NSW Government to get right. The NSW Taxi Council proposed a workable, no-net cost solution to the NSW Government.
Furthermore, the NSW Taxi Council requested Taxi Licence Owners across NSW to reach out to their Local Member of Parliament to sign the NSW Taxi Industry Pledge, in support of fair and proper compensation. We have had 58 Members of Parliament across all political parties sign the NSW Taxi Industry Pledge.
Mr Rogers said, “There is evidence of cross-party support in the NSW Parliament to address the matter. The NSW Taxi Industry welcomes the ‘sympathetic ear’ of the NSW Transport Minister – David Elliott and his further comments on having the industry’s back and the need to resolve the matter of Taxi Licence Compensation”.
“We are actively engaging with the NSW Government to understand the finer details of the package and look forward to receiving more information from the NSW Government regarding the proposed compensation package”, Mr Rogers added.
The NSW Government needs to ensure fair and proper compensation for Taxi licence owners, with any further reforms ensuring a regulated system remains that supports a Taxi industry that encourages future business investment and provides a viable, reliable and affordable travel option for passengers across all of NSW.