London Taxi Fares May Rise by 7.07% in 2027 Amid Inflation Concerns
The Licensed Taxi Drivers' Association (LTDA) is considering a potential 7.07% increase in London taxi fares from April 2027, according to an early indication of operating costs and average national earnings.
The calculation combines a 5.03% rise in operating costs with a 2.05% increase in average national earnings, which includes items such as fuel, insurance, and vehicle maintenance.
LTDA senior representative Sam Houston noted that the projected figure significantly exceeds the overall UK inflation rate of around 3%, with vehicle and insurance costs being major contributors to the difference.
Houston pointed out that London taxis are a unique selling point due to their wheelchair accessibility, but also cautioned that an increase in fares could impact drivers' hourly earnings and customer choices.