Urgent action needed to prevent London's black cabs from disappearing by 2045

A new report by Centre for London indicates that the iconic black cab industry in London may vanish by 2045 if current trends persist, driven by a significant reduction in licensed cabs—down 34.5% from 2013-2014. Concurrently, private hire vehicles have grown by 82%, exacerbating the situation. Rising operational costs, combined with diminished governmental support and a drastic drop in new taxi licenses issued, underscore the industry's precarious state. A survey reveals substantial public support for black cabs, emphasizing the need for urgent action from authorities to protect this vital London tradition.

The Centre for London report indicates that London's black cab industry is at risk of extinction by 2045, urging government intervention to preserve its future.

With a 34.5% decline in black cab licenses over the last decade and an 82% rise in private hire vehicles, immediate government action is crucial.

Read at Business Matters