TRANSPORT
Uber faces stiff fee hike by London
London — Uber faces a big jump in the fee it pays to operate in London to £2.9m if the ride-hailing company is granted a new licence by the city’s transport authority. Transport for London (TfL) said on Monday that companies with more than 10,000 vehicles would pay £2.9m for a licence under a multi-tiered system coming into force this week. In 2012, Uber paid less than £3,000 for a five-year licence to operate in London, which was extended in May by four months partly because TfL needed to finalise its new fees system. Uber has about 40,000 drivers in London. A decision on Uber’s licence is due by the end of September. TfL’s general manager of taxi and private hire, Helen Chapman, said: "There has been a huge growth in the industry in recent years and it is only fair that the licence fee reflects the costs of regulation and enforcement. "The changes to fees will help us fund additional compliance officers who do a crucial job cracking down on illegal and dangerous activity," she sai...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.