One of the UK’s largest Private Hire firms, Addison Lee has had its operators license renewed for a further five years.
Transport for London extended its license until 2023, and at the same time charging the company £700,000 for the privilege, compared to £2,800 charged on its last renewal.
In 2017, TfL announced massive hikes in operator fee’s to fund enforcement within the industry. TfL estimates over the next five years enforcement costs alone will reach £30 million from a previous estimate of £4m. The total projected cost for licensing, enforcement and compliance for the taxi and private hire trades over the next five years is £209m.
An Addison Lee spokesman said: “Addison Lee looks forward to continuing to offer Londoners a high quality, reliable service in getting around town. We are fully supportive of TfL’s efforts to enhance the standard of regulation in the private hire industry.”