THE NATIONAL TRANSPORT Authority (NTA) has recommended that taxi fares increase by up to 12.5% in a new report.

The proposals, within the National Maximum Taxi Fare report 2022, seek to raise the maximum price of taxis due to increased running costs for taxi operators since fares last increased in 2018.

The Journal previously reported that taxi fares may have to increase due to higher fuel costs, with the cost of running a taxi rising by between 10.7% and 11.5% since 2017.

The proposed price increase by the NTA is between 11.7% and 12.5%.

“The report published today provides an update on this, and has found that overall, the costs associated with operating a taxi increased between 2017 and 2022 by approximately 11%,” said the NTA in a statement.

“An increase in maximum taxi fare levels to reflect this, is recommended in the report.”

Alongside the proposal to increase prices, the NTA are seeking to implement cashless payment options across all taxis. This measure was previously recommended in 2019 but was deferred due to the Covid-19 pandemic.

The NTA has said that due to the cost of implementing cashless payments, including hardware and transaction fees, an additional 1% should be added to the maximum fare.

This leads to the estimated price increase of 12.5%.

According to the NTA, cashless payments are being proposed as part of efforts to bring taxis in line with other services, with card payments being the norm in shops and restaurants across the country.

The proposed price increase is currently under public consultation until Friday, 27 May at 12pm.

Following the consultation, the report will be brought to the board of the NTA for consideration.

The Taxi Fare Review is carried out approximately every two years to assess operating costs in the sector.