The 2015-16 Victorian State Budget was released this week with an allocation of $1 million per year for the next four years, as part of the hardship fund to assist taxi licence holders.
The State Government's commitment is referred to in Budget Paper 3 (page 20). A description of the harship fund allocation reads as follows (page 32):
“Hardship support for taxi licence owners
A Taxi Hardship Fund will be established to support taxi licence holders suffering severe financial distress following recent significant reform of the taxi industry. A new Ministerial Forum will be established that brings together regulators, industry, consumers and government and provides greater transparency in the administration of taxi entry and consumer interest tests. This will support the Taxi Services Commission to provide quality, sustainable taxi services for consumers. This initiative delivers on the Government’s election commitment as published in Labor’s Financial Statement 2014. This initiative contributes to the Department of Economic Development, Jobs, Transport and Resources’ Taxi and Hire Vehicle Services output.”
Click here to read Budget Paper 3.