Anyone who has queued for a cab after a night on the town in Brisbane knows there are not enough taxis (and forget about catching a cab on New Year’s Eve). While you have to expect delays during peak periods, part of the problem is the artificial scarcity of cabs created by government regulation. Regulation means new operators have to jump through a large number of regulatory hoops, discouraging the emergence of new operators. Nonetheless, one new operator is seeking to break the Yellow Cabs-Black & White Cabs duopoly in Brisbane:
The current Queensland Government review of the taxi industry needs to consider whether there remains a public benefit from the existing regulatory regime. While we need to be mindful of safety concerns, it’s possible we can cut back on the regulatory requirements to make it easier for new operators to start up. More cabs would mean less time wasted in queues and, over the medium to long-term, lower fares for passengers, as competition puts a brake on fare increases.