We will assess the effectiveness of competition in the point to point transport market to inform our recommendations on maximum fares and licence numbers. We will examine:
- taxi licence values,
- passenger demand for rank and hail services, and
- the availability of alternative point to point transport options.
If we find that competition is effective we are likely to recommend authorised taxi service providers have more flexibility in how they set their fares than they have had in the past. This would allow them to set fares that reflect their costs and customers’ willingness to pay.