Most people in the UK are feeling the pinch from a financial perspective. What with mortgage repayments having risen significantly for many in the last couple of years, those renting having to pay more to their landlords, grocery bills having gone up by a considerable amount and utility bills costing more. Higher household expenditure has impacted taxi drivers as well.

So, it will come as welcome news to taxi drivers to hear that many councils have agreed an increase in the amount taxi drivers can charge their passengers. Obviously, this news will not be well received by many people using the service of a taxi driver but hopefully they will understand the need for an increase in taxi fares.

Apparently, in London black cab drivers are expected to be able to charge around 8.9% more than they have been able to do. This figure is much more then the current rate of inflation. It is hoped that this rise may make some black cab drivers in London who were considering ceasing to operate as taxi drivers to stay in the business.

You only have to do a search on Google News to read of many councils dotted around the UK that have agreed that taxi fares can increase in the not too distant future.

Presumably, if a taxi driver so wishes, he or she does not have to charge a passenger more for riding in their cab. However, it would be fairer all around, if all taxi drivers agreed to increase their fares.

It will of course be interesting to monitor what impact an increase in taxi fares has on business. Will some taxi firms see fewer customers choosing to use their service and instead make alternative arrangements? For instance, will a group of say 4 people who are perhaps going out for a meal to a restaurant nominate 1 of the party to be the driver for the evening and that person agrees not to drink alcohol.