Private Hire Regulations Review: Response to Consultation and further proposals


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New IEA briefing explains why proposed hire regulation would harm competition PHV consultation response - Institute of Economic Affairs.pdf
On 30 September, Transport for London (TfL) launched a consultation on its review of the regulations covering private hire vehicles (PHVs), commonly known as minicabs. Whilst recent technological developments have had important implications for the private passenger transport sector – including minicabs but also licensed taxis – many of the proposals put forward by TfL would appear to:

  • Raise barriers to competition in the sector

  • Undermine the welfare of PHV users without any apparent impact on passenger safety

  • Make beneficial innovation of the sort that the sector has recently experienced less likely in the future.

This briefing examines the most salient regulatory changes proposed by TfL in its consultation and responds to selected proposals within the consultation.

To read the press release, click here.

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Policy Analyst at the Cato Institute's Center for Monetary and Financial Alternatives

Diego was educated at McGill University and Keble College, Oxford, from which he holds degrees in economics and finance. His policy interests are mainly in consumer finance and banking, capital markets regulation, and multi-sided markets. However, he has written on a range of economic issues including the taxation of capital income, the regulation of online platforms and the reform of electricity markets after Brexit. Diego’s articles have featured in UK and foreign outlets such as Newsweek, City AM, CapX and L’Opinion. He is also a frequent speaker on broadcast media and at public events, as well as a lecturer at the University of Buckingham.