Govt stretches hire car buyback offer in 2005 but ACT taxis BUYBACK REJECTED by Minister Steel
Dear Ben, Regarding ACT Taxi Buyback request, the ACT Government in 2005 increased its offer for the buyback scheme for hire car licences. Canberra's Limousine Association rejected a $2.2 million plan to buy back plates, saying it was not enough. Urban Services Minister John Hargreaves said the new offer increases payments to between $100,000 and $120,000 depending on the initial price paid. Please raise this with Minister Steels advisor ASAP. Thanks Endre Kovacs ACTTPOA Chairperson 2 SEPT 2023
ARTICLE EXTRACT:
The ACT Government has increased its offer for the buyback scheme for hire car licences.
Last September Canberra’s Limousine Association rejected a $2.2 million plan to buy back plates, saying it was not enough.
Urban Services Minister John Hargreaves says the new offer increases payments to between $100,000 and $120,000 depending on the initial price paid.
He says the buyback is voluntary and those who do not want to sell their plates can continue to operate.
“What we’ve seen now is a recognition that the hire car industry ought to receive proper compensation for the lack of confidence in that industry, which has resulted in the need to restructure it,” he said.
