Taxi licence buy backs have to be an option that is always on the table according to Taxi Council of Queensland (TCQ) chief executive officer, Blair Davies.
“We want our members to know that we are open to the State Government reacquiring the taxi licences they sold to the industry, but only if are willing to do so on what section 51 of the Constitution would consider as being on just terms,” he said.
“Most Australians understand and support the concept of on just terms as popularised in the movie, The Castle. For the Queensland Government, it means buying back licences at their fair market value immediately prior to the arrival of illegal ride-sourcing services in April 2014.”
“It would be a moral outrage to the concept if the Government sought to take advantage of lower market values that have resulted from the Government’s inability to enforce its own laws, and more recently, its creation of unlevel regulations that unfairly favour ride-booking services.”
“If the Government wants to buy back taxi licences say in Brisbane then they need to be looking at offering a figure north of $500,000 per licence.
"That might seem like a lot of money to an ordinary bloke in the street but it has to be remembered that taxi licences over the decades have typically been bought and sold for prices around the prevailing median house prices.”
Mr Davies said that TCQ was very concerned about the downward trend in taxi licence values and the impact that that is having on the thousands of mum and dad businesses that own those licences.
“TCQ has always stood up for taxi licence owners and our new team plans to redouble our efforts to put the stops on any Government that wants to disrespect them,” he said.