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Mr. Bendall
asked the Secretary of State for the Home Department whether he will grant an increase in London taxi fares.
Mr. Whitelaw
I intend to make an order shortly increasing London taxi fares by an average of 25 per cent.The new tariff, which will come into operation on 18 May, will incorporate a minimum fare of 50p, including a hiring charge of 30p—for the first 840 yards or 4 minutes. Thereafter the rate will be 10p for each 420 yards or 2 minutes up to 6 miles and 10p for each 280 yards or 1 minute 20 seconds thereafter.In order to increase the supply of taxis at night, weekends and public holidays, I have decided that the extra charge for
| Total tax paid | Tax paid at composite rate* | Tax paid at excess over basic rate† | Tax paid as investment income surcharge† | |||
| £ million | £ million | £ million | £ million | |||
| 1976–77 | … | … | 815 | 670 | 75 | 70 |
| 1977–78 | … | … | 850 | 690 | 85 | 75 |
| 1978–79 | … | … | 845 | 660 | 95 | 90 |
| 1979–80 | … | … | 1,095 | 935 | 90 | 70 |
| * Amounts paid by the Building Societies at composite rate, including a small amount paid at basic rate where the investment is not within the scope of the income tax arrangements—for example, where the amount of the investment exceeds the prescribed limit, or where the investor is not an individual for tax purposes. | ||||||
| † These estimates are derived on the assumption that the interest received represents the top slice of all taxable income. | ||||||