Taxi fares set to rise from between three and seven per cent

The cost of a taxi journey could be set to go up with the National Transport Authority considering increasing fares by around 3%.

The National Private Hire and Taxi Association want an even bigger increase to cover spiralling insurance costs.

Spokesperson Jim Waldron explained why his members felt an increase was justified.

"We believe we could justify a fare increase of 18%. We are not saying we should get an 18% increase but 8 years ago taxi drivers rejected a 4% increase at a time when the economy was bad because we felt the public could not sustain that. 

"We believe that we shoud at least get that 4% on top of the 3% they are offering us at the moment.