“As a once retiree, I have now had my retirement savings stolen by ill advised government decisions”

“The taxi crisis in ACT has created a profound deleterious financial, emotional impact on me and my family, making my hard working tax paid investments in 3 ACT perpetual taxi licences (my retirement superannuation) virtually worthless when you consider I had invested close to $700,000 (excluding CPI). My family cannot live off the taxi lease payments.  I am facing a non sustainable future and am just far too old to start again. My retirement is gone has been decimated. No one can survive on a taxi lease income. I am too old to start again.

“It is time this Government right the wrong and fix the problem through financial compensation for loss in income and value of taxi licences. The taxi industry in ACT is no longer viable or sustainable. If you think otherwise, try driving a taxi!”

Endre Kovacs

 

“I will have to continue working long after I had planned to retire.”

Ibrahim lives with his wife who he supports, and 100% of their household income is from their taxi plate investment.

“I put my own hard earned money into taxi plates in a market that was regulated tightly by the ACT Government. I used to earn $20,000 per year from leasing my plate and now I earn $5,000 per year. I will have to continue working long after I had planned to retire as a result.”

Ibrahim’s physical health has declined because he has had to take on another job and work long hours to try and support his family, and this has had a big impact on his mental health too.

“Not a day goes by that I don’t think about the money I handed over to the ACT Government, and I feel so angry. How could the Government do this? Government’s are supposed to help the public, not think of ways to steal our money.”

Ibrahim Ozturk

 

“I am depressed and often very angry at how unfairly the ACT Government has treated us.”

 

Three years ago 75% of Melville and Robyn’s household income came from their taxi plate, now they can only afford to rely on it for 25% of their household income.

“We sold our family home to make the investment in the plate and be debt free and no burden on the state. Now we barely have an income and we have a taxi plate we can’t sell to reinvest elsewhere and replace the income lost.”

When the value of Melville and Robyn’s plate dropped to $40,000 they lost 75% of their income. That meant they could barely survive and they have had to cut out anything costly, even necessities important for their survival.

“Visits to the Doctors are avoided as we can’t afford to be in a Health Fund, and do not qualify for a low income health card. We also can’t afford house insurance and live in constant fear of a bush fire wiping us out.”

Both Melville and Robyn have felt the mental health effects of the crippling financial position they have been put in by the ACT Government.

“I am depressed and often very angry at how unfairly the ACT Government has treated us. I feel so powerless in the face of a decision my government made without any consideration for how it would affect me. I am fearful every new day that I have to look at” said Melville.

For Melville and Robyn this ACT Taxi Crisis has caused “humiliation and isolation”.

Melville and Robyn

 

“My health is being compromised due to stress.”

Narelle owns five taxi plates three of which have already been forced out of the market as a result of the ACT Government releasing more Government owned plates than the market can handle. She has lost $1.1 million to the ACT Government.

“Compared with one year ago the income I have received on my taxi plate investment has dropped from $9,500 p.a. to $6,300 p.a.” This loss will continue to escalate under the government’s taxi scheme.

Having recently lost her husband and 75% of her household income Narelle has felt the psychological impacts of extreme stress and powerlessness that the Taxi Crisis has caused.

“I am extremely upset, stressed and angry. My health is being compromised due to stress.”

As an elderly member of the Canberra community she is similar to many of the Plate Owners who had been hoping to retire with their taxi plate investment funding them. Now she will have to change those plans.

“I am 74 and I will need to continue working into the foreseeable future.”

“I am very concerned about paying my husband’s aged care bills, and my own health issues are not improving due to excessive stress and uncertainty of the future financial situation.”

ACT Plate Owners like Narelle have very little trust in a system that they thought was there to protect their interests.

“Why is the government not encouraging small business so people can remain self-funded in retirement?”

Narelle owns five taxi plates three of which have already been forced out of the market as a result of the ACT Government releasing more Government owned plates than the market can handle. She has lost $1.1 million to the ACT Government.

“Compared with one year ago the income I have received on my taxi plate investment has dropped from $9,500 p.a. to $6,300 p.a.” This loss will continue to escalate under the government’s taxi scheme.

Having recently lost her husband and 75% of her household income Narelle has felt the psychological impacts of extreme stress and powerlessness that the Taxi Crisis has caused.

“I am extremely upset, stressed and angry. My health is being compromised due to stress.”

As an elderly member of the Canberra community she is similar to many of the Plate Owners who had been hoping to retire with their taxi plate investment funding them. Now she will have to change those plans.

“I am 74 and I will need to continue working into the foreseeable future.”

“I am very concerned about paying my husband’s aged care bills, and my own health issues are not improving due to excessive stress and uncertainty of the future financial situation.”

ACT Plate Owners like Narelle have very little trust in a system that they thought was there to protect their interests.

“Why is the government not encouraging small business so people can remain self-funded in retirement?”

Emotion Toll Narelle

“How could you do this to us?”

How could you do this to us?  We worked hard all our lives, for approximately 15 years my husband and I worked 14 hours a day 7 days a week to make ends meet and this is how we get repaid by the Labor Government. Within 3 years we have become beggars.

Why have we been put into this predicament by a Labor Government whose role is to protect the working class.

Bill

“I am very angry that it is not the same level playing field as we were promised before.”

Stanley relies on his taxi plate to provide 80%of his income, and he also drives a taxi for a living. As a result of the changes the ACT government has made in the taxi industry Stanley has had to make big changes to his lifestyle.

He works much longer hours for less return than he used to get three years ago, and has felt the affects of this on his physical health and wellbeing.

“I am very angry that it is not the same level playing field as we were promised before. Its totally unfair what the government has done to us.”

“We don’t need more taxis out there. Please think twice about releasing any more plates and consider trying to level the playing field.”

Stanley Woo

 

“I am getting sicker as the pressure on me becomes greater.”

William is an owner-driver who at the age of 77 is still forced to drive his own cab because the taxi plate he invested in cannot sustain him and his wife who is dependent on him.

“Because of the ACT Government’s policy change in the taxi industry I have been forced to go back to work after already being retired. I barely get to see my family because this situation has meant I must drive a taxi for long hours every day.”

William’s physical and mental health have both suffered as a result of his having to come out of retirement.

“I have shingles as a result of the extreme stress that the circumstances have caused me and I am getting sicker as the pressure on me becomes greater.”

“The ACT Government has put so little thought into what would happen when they released those new plates. It is ludicrous.”

William Tougher

“This not only affects us, but our children and grandchildren.”

Simeon and Bozna commenced driving in 1980 with an onerous 7 day a week schedule. After over 25 years of work they secured 2 Taxi Licences for their retirement at a cost of over $700,000. They are now into their 70’s and well into retirement and are devastated by the changes in their income and superannuation value. They are not pensioners and have worked hard to secure financial independence to avoid government pensions.

The changes have meant that their income from their leases has gone from $840.00 per week down to $220.00 per week as one licence has been handed back due to the driver changing to a cheap ACT Government lease.  The drop of income is devastating severely affecting their everyday lives and opportunity for a full retirement.

“The actions of the ACT Government have affected us badly in our retirement. After a lifetime’s work in the industry that the Government created and managed, we are left with the loss of our savings and opportunity from all of our hard work. This not only affects us, but our children and grandchildren. It is time to offer compensation so people’s lives can recover.”

Simeon BoznaIvanovski

 

“You changed the rules and have left my family with huge financial loss.”

Peter has a 12 year old daughter who just started high school, and he is struggling to make ends meet while trying to balance the needs of his family with the repayments he needs to make on his taxi plate. The taxi plate which cost close to a quarter of a million dollars can barely produce 20% of Peter’s household income.

Peter’s mental health has been greatly affected by the stress of this situation.

“The changes in the ACT taxi industry have meant my investment in my family’s future is now almost worthless. Because of that, I am sad and feel helpless everyday. I also feel ashamed to admit this because I try to remain strong and positive for my family.”

Peter just wants fair and just treatment for his family on the part of the ACT Government.

“You changed the rules and have left my family with huge financial loss. Please look at our situation and be fair and reasonable. We are good hard working people and this has impacted our families. Please listen, be fair, show empathy and respect.”

Peter Papageorgiou

 

“The ACT Government has destroyed us, they have ruined our lives.”

Peter relied on his taxi plate to provide 80% of his household income, but now at the age of 70 he will have to continue to work into the foreseeable future to survive.

“I can’t spend as much time as I used to with my family because I have to work longer hours than ever before to provide for them. Continuing to work has put a massive strain on myself and my family.”

Peter’s physical and mental health and wellbeing have been severely impacted by these circumstances. He feels constantly anxious and depressed because his future is no longer secure.

“I bought the taxi plate in order to be able to receive a better income so I could retire, and that has been taken away from me.”

“The ACT Government has destroyed us, they have ruined our lives. I thought I was doing the right thing when I bought a taxi plate; having some extra income so I wouldn’t need to burden the state for the pension.”

Peter Aspropotamitis

“I have saved and saved my money for a rainy day and now it’s gone.”

Ado and Antonia depended on the earnings from their taxi plate to make up 80% of their household income. They are now struggling to afford to pay their electricity bills, put food on the table, and register their car.

“I don’t know what’s going to happen. All our savings are gone. We were depending on the money that used to come in from our taxi plate and now that money is gone.”

 

“I can’t sleep as I am worrying and panicking with my husband. I am always stressed as I don’t know what is going to happen to us next.”

Antonia and Ado are in a position where they have no idea where they will be able to get the money to sustain themselves from.

“I came to Australia when I was 15 years old, and have worked hard all my life. I have saved and saved my money for a rainy day and now it’s gone. I’ve got nothing because the ACT Government has decided to take it away! How do I live and pay my bills and council rates? You still expect money from me when you have already taken it all away. I don’t know if it’s worth living any more!”

Ado and Antonia

“This is always on our minds, and we are very stressed and anxious.”

Bobby has a family of four who he supports. He relies on the income from leasing his taxi plate to provide more than 65% of his household income. But with the huge devaluation of taxi plates that the ACT Government has imposed Bobby and his family have had to make big changes to their lifestyle to try and cut costs they simply cannot afford.

“My family and I now live on a very strict budget, trying to save every single dollar, and we have to make sacrifices. We can no longer afford to take our family on holiday, and we don’t have the money to give our children gifts for special occasions.”

Bobby like many of the Plate Owners whose livelihoods have been ruined, borrowed money from family and friends to invest in his taxi plate which he will not be able to repay now.

“This is always on our minds, and we are very stressed and anxious.”

“Why does the ACT Government continue to release new plates when we are already struggling to make ends meet?

Bobby Shergil

“I feel a lot of anxiety about the uncertainty of my family’s future.”

David uses his taxi plate to support his family, and the income from the lease used to produce one third of his household income. He is concerned about plans he had for the future which will now have to be put on hold.

“I feel a lot of anxiety about the uncertainty of my family’s future.”

David had hoped that his taxi plate investment would be able to support him into retirement, but now his superannuation is gone. He now believes that he and his family will have to get support from the government rather than being independent and self-funded into retirement.

“I just don’t understand why the government is doing this to us. Why would they continue to put out more plates at such a small fee after seeing what its done to plate owners.”

David Cadona

“I have sleepless nights, headaches and other stress-related medical problems”

Michael relies on his taxi plates for 50% of his household income. He shares this with his wife and his daughter, Sofiya who also owns a taxi plate. Sofiya is a disabled person who is unable to work at this time so she depends solely on her taxi plate for income.

Michael no longer uses his car for outings as this has become too expensive, and the family spend all of their time stranded at home. They have also has to cut down on groceries to amounts which are less than what is considered healthy.

“I have sleepless nights, headaches and other stress-related medical problems that have been caused by the anxiety I always feel about this situation.”

“We need the Government to buy the plates back from us and to put us out of our misery.”

“This is a desperate situation, it has become a matter of life and death in my case.”

Michael Khan