At the heart of the crisis are mounting pressures to switch to electric vehicles, an ageing workforce reluctant to invest in pricey new taxis, and city-wide 'anti-car' measures that drivers say make it harder than ever to serve passengers swiftly.
Steve McNamara, head of the Licensed Taxi Driver's Association, believes cabbies are being taken for granted. He claims that a maze of cycle lanes and 20mph restrictions has turned London into a place 'virtually impossible' to navigate.
For drivers who remain on the road, earnings have been buoyant. Fewer taxis in circulation means black cabs now control a bigger slice of the market, enabling some drivers to earn as much as £100,000 a year.
Ironically, rising fares have not dampened passenger demand. Cabbie Tom Hutley worries how rising prices, along with re-routed journeys due to restrictions, will affect customer perceptions.
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