Dec 17, 2015

The VTA was aware of the process underway in NSW to investigate the best way to regulate point-to-point transport in the modern world. Today, the NSW Cabinet has made a decision, seeing the legalization of ridesharing services and a significant reduction of regulation.

The transition involves compensation for existing perpetual taxi license plate holders with a $250 million dollar ‘industry adjustment package’ being announced. Part of the compensation will be a flat payment of $20,000 per licence for individual plate holders, and $40,000 for those with two or more licences but no further details on the distribution of the additional funds have been released at this stage.

The NSW Government has published a brief fact sheet outlining the recommendations of the point-to-point transport taskforce and their response to it which offers an overview of the changes to be made to the industry.

The VTA will remain focused on the challenges that confront us in Victoria in this space and continue to engage constructively with Government with the aim of arriving at a holistic and sustainable solution.

We want to see a future for the commercial passenger vehicle industry where the industry is free to deliver the best possible services, where regulation is used only to address market failures, allowing a genuinely competitive marketplace to function where all providers are playing by the same rules.