London’s taxi industry at risk as numbers hit 40-year low: Urgent taxi questions put to Mayor of London

As London’s black cab numbers plummet to a 40-year low, concerns are growing over the future of the city’s iconic taxi industry. With the rising cost of black cabs and barriers for new drivers, questions are being raised ahead of the upcoming Mayor’s Question Time.

Sam Pooke, Senior Public Affairs Manager at FREENOW UK, highlighted the need for swift intervention. He pointed out that there are now only 17,000 licensed black cab drivers in London, compared to 23,000 in March 2019. The drop is exacerbated by the rising cost of vehicles, with new cabs costing around £100,000 when the cost of finance is included in any purchase, making it increasingly difficult for drivers to afford them. This financial burden, combined with the challenging Knowledge test, has deterred potential new drivers.

Pooke emphasised the crucial role that black cabs play for those with mobility challenges, urging the Mayor and Transport for London (TfL) to address these issues as part of their Taxi and Private Hire Vehicle (PHV) Action Plan.

Assembly Members are pressing for solutions. Questions submitted this month include whether TfL will take steps to make black cabs more affordable for new drivers and whether changes will be made to the Knowledge test or vehicle standards to attract more manufacturers to the market.

With the number of licensed black cab drivers in freefall and private hire vehicles on the rise, the long-term future of London’s taxi industry remains uncertain.

Sam Pooke, Senior Public Affairs Manager at FREENOW UK, said: “Ahead of Mayor's Question Time, it is encouraging to see Assembly Members asking crucial questions about the future of London’s taxi industry. With licensed taxi numbers at a 40-year low and the rising cost of purchasing black cabs, it's clear that urgent action is required to secure the industry's future.

“The black cab workforce is shrinking rapidly, with only over 17K licensed cabbies today, compared to over 23K in March 2019. Our research shows that nearly all black cab drivers (94%) report that the high cost of purchasing or renting a cab has significantly impacted their finances, while the current Knowledge test continues to be a challenge for new drivers . It is vital that the Mayor and TfL address the significant barriers to entry, such as taxi vehicle costs and the Knowledge test, as part of their new taxi and PHV Action Plan.

“London's black cabs aren’t just an iconic transport method for tourists and locals; they are a lifeline for those with mobility difficulties, and therefore, we hope the questions raised by Assembly Members are addressed and actions are taken before it’s too late.”