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Fair and equitable compensation for taxi plate owners.

ACT GOVERNMENT DESTROYS TAXI PLATE MARKET BY DROPPING INCOME FOR INVESTORS BY 75% AND FURTHER ISSUES 30 MORE TAXI PLATES

Vulnerable Families Losing Their Life Savings and Futures due to ACT Government Taxi Scheme

As a result of immoral and unjust actions carried out by the ACT Government against them, a group of 120 Perpetual Taxi Plate Owners have formed the ACT Taxi Plate Owners Association in an attempt to get justice for themselves and their families.

 

These individuals have invested their lifesavings over their lifetimes in ACT Taxi Plates in the hope that they would be able to fund their children’s educations and their own retirements. The government has used manipulative tactics to dominate and monopolise the ACT taxi industry, and this has been to the detriment of innocent members of their own community.

 

They have issued 30 new taxi plates as of 25th January 2019 at $5000.00 p.a. for up to six year terms in direct competition with private owners that paid up to $300,000.00 each and are expecting a yield of $20,000.00 p.a.

 

The policy changes implemented by the ACT government have resulted in the massive devaluation of the investments of Taxi Plate owners from $250,000 to $50,000, and have left these people, many of whom are elderly or retired, struggling to survive, especially as they cannot get Centre Link pensions due to misevaluations. As a result their net income amounts to less than a pension despite their massive investment.

 

The government has dropped their lease rates from $20,000.00 to $5,000.00 and flooded the market with new plates well above what the local taxi industry can sustain delivering massive drops of income for 1700 registered full-time and part-time taxi operators/drivers in the ACT. The cost of this disdainful action to ACT Taxi Plate Owners and taxi drivers as well as to their families has been crippling and led to one suicide to date with many families that are absolutely distraught.

 

The ACT government has completely upended the expectations and regulations that have been in place in the taxi industry in Canberra since the 1940s, and all with the intention of strengthening their own position in this market through the direct ownership and taxation of over one third of cabs now on the road.

 

The initial intention of the ACTTPOA was to appeal to the ACT government for compensation, as is fair and reasonable practice in situations like this one, where drastic changes have been made to industry regulation with disregard for market participants. The notion of a competitive and sustainable taxi industry is completely out of the question if the government is allowed to proceed in this manner. It seems not out of the question for other small business owners to be concerned as the government displays such disregard for hard-working people aiming to be fully self-sufficient.

 

The release of 30 new plates on the 25th of January 2019 comes after the ACTTPOA provided Mr Shane Rattenbury, Mr Gordon Ramsey and Mr Andrew Barr detailed information of the economic and social impacts caused by their actions. The losses plate owners are severe and at crisis point for many families. “The Ministers have acted with absolute disregard to 170 families that are loosing their livelihood as a direct outcome of their decisions.” said Mr Petar Ivanovski – Chairman of the ACTTPOA.

 

3 ACT Ministers with TITLES

They are the only ones smiling

“Having explained in detail the social impacts the ACT Government continues to act on ill conceived and dubious advice. There is now no turning back to effective returns for Plate owners and the only way forward is compensation.” said Mr Petar Ivanovski – Chairman of the ACTTPOA.

“The most troubling outcomes is that elderly and vulnerable individuals that have lost their life savings due to government market manipulation are being totally disregarded by the Ministers. This is a shameful out come for the ACT.” said Mr Petar Ivanovski – Chairman of the ACTTPOA.

VISIT https://www.acttaxicrisis.com.au/

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Goal

We are representing the interests of all taxi plate owners in response to financial losses in income and asset value forced upon us by the NSW Mike Baird Liberal State Government and other NSW parliamentarians.

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