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Notice 04/12 Annual Taxi Fares and Tariff Review 2012

11/04/2012

Transport for London
London Taxi and Private Hire

Following the annual consultation and review of taxi fares, on 2 February 2012 the Transport for London (TfL) Board approved a 5.3% increase to taxi fares.
The increase was calculated using the Cost Index, agreed through consultation with taxi trade representatives, and combines changes in the costs of operating a taxi in London with national earnings to produce a change in average fares. The new tariff rates plus changes to average fares are set out in Appendix A.
The TfL Board also approved:

A 20p increase to the ‘flagfall’ taking this from £2.20 to £2.40

A 40p additional charge which will be implemented only if London retail diesel prices (as measured by the Arval index) reach 179.7p/litre

Increases to certain fares for the existing fixed-fare taxi schemes. The new fares are set out in Appendix B.

Additional fixed-fare schemes for the 2012 Olympic and Paralympic Games
Although there was a suggestion to introduce an additional charge or premium for the 2012 Olympic and Paralympic Games this was not approved by the TfL Board and the normal fares and tariff rates will apply during the Games.
The TfL Board also approved the implementation of a scheme which will allow certain taxi companies to charge pre-agreed fares for pre-booked taxi journeys. The criteria that companies must meet and the circumstances when these fares could be charged are being finalised and once completed a separate notice will be issued confirming the details.
John Mason
Director, Taxi and Private Hire

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