Taxi rule ‘will put many drivers out of business’.

AN 11th-hour moratorium should be placed on a rule that all taxis must be less than nine years old, according to the Labour Party.

The new rule, which it is estimated will affect up to 6,000 taxi drivers, or nearly a quarter of the country’s fleet, is due to come into force tomorrow . Branding the move “ill thought out”, Labour transport spokesman Joe Costello called for the National Transport Authority (NTA), which took over responsibility for taxi regulation at the beginning of this month, to declare a moratorium on the nine-year age limit “until an assessment of the sudden impact of the measure on employment in the taxi industry has taken place and until alleviating measures are explored.”

The call comes as taxi drivers have highlighted problems they are encountering in securing bank loans to purchase newer cars.