Posted on the 18th February 2026 in PHTM News

LONDON TAXI FARES TO RISE AS CABBIE NUMBERS HIT 50 YEAR LOW

London black cab fares are set to increase above the rate of inflation in a desperate move to stop drivers from leaving the trade.

Transport for London (TfL) data shows a nearly 30 per cent decline in cabbies since 2020, with numbers now at their lowest since 1975.

To counter this, the minimum fare will increase by 20p to £4.40, and the day, night and weekend rates will increase by 2.88 per cent.

The overall impact on fares will be an average increase of 4.01 per cent. An option to freeze taxi fares was rejected.

The new tariffs, which are due to come into effect on April 25, will be the lowest percentage increase since January 2020, when fares rose by 3.4 per cent. 

The decision comes as TfL attempts to "strike an appropriate balance" between fair pay for drivers and affordable travel for passengers.

In a report explaining the hike, TfL stated: "It is important to try and retain existing taxi drivers and increasing the minimum fare and tariffs to reflect the change in both taxi drivers’ operating costs and average national earnings may help with this." 

Beyond the meter changes, passengers heading to London City Airport will also face a new £6 drop-off charge starting April 25.

While The Taxi Driver Tariff Team, which represents the five main taxi trade organisations in London support the increase, passenger groups have expressed "significant concerns."

Critics argue that for disabled and elderly Londoners, taxis are "not a luxury but an essential mode of transport."

Meanwhile, operators such as Addison Lee/Comcab noted that the number of new drivers is tiny compared to those retiring, pointing out that the high cost of vehicles and the time required to learn the "Knowledge" remain massive barriers to entering the profession.


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