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Law Commission Report underestimates our earnings (big time)
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Author:  Sussex [ Thu May 10, 2012 8:08 pm ]
Post subject:  Law Commission Report underestimates our earnings (big time)
Quote:
1.54
The taxi and private hire vehicle industry today is a significant contributor to UK economic activity. The Department for Transport’s latest statistics indicate that there are nearly 300,000 licensed taxi and private hire vehicle drivers in England and Wales driving 78,000 taxi vehicles and 155,000 private hire vehicles. Total revenue is estimated at £1.4 billion a year. In 2011 London, with an estimated 29% of taxis and 33% of all private hire vehicles, accounted for a disproportionately large share of industry activity.

Oh dear. :sad:

So we have 233,000 licensed vehicles accounting for £1.4 billion a year.

Simple maths, which I would hope those at the Law Commission have gained, leads to 233,000 divided by 1,400,000,000 = £6,008 a year, divide that by 50 = £120.17p a week.

Now I know things are a bit iffy at present, but they ain't that bad. :sad:

So please those at the Law Commission, get the basics right, and don't take what the spivs, cranks and Saturday night workers tell you.

FFS speak to full time drivers.
Author:  TX11 CAB [ Thu May 10, 2012 9:05 pm ]
Post subject:  Re: Law Commission Report underestimates our earnings (big t
Maybe I'm being a bit thick, but I read it as meaning revenue for the country, tax on fuel, tax on vehicles and parts tax on repairs tax on insurance and.... Road tax.
Author:  Sussex [ Thu May 10, 2012 9:17 pm ]
Post subject:  Re: Law Commission Report underestimates our earnings (big t
TX11 CAB wrote:
Maybe I'm being a bit thick, but I read it as meaning revenue for the country, tax on fuel, tax on vehicles and parts tax on repairs tax on insurance and.... Road tax.

Would that equate to £6,000 a year? :?

I'm not paying £500+ for the report, but the flyer for the report indicates it might be takings, not tax revenue. I think. :?

http://www.ibisworld.co.uk/market-resea ... ation.html
Author:  Brummie Cabbie [ Thu May 10, 2012 10:01 pm ]
Post subject:  Re: Law Commission Report underestimates our earnings (big t
This is the first major cock-up in the report, which ever way you look at it!!

Someone from the Law Commission needs to explain the maths on this because it just don't work.

The consultation paper is losing credibility already.
Author:  Brummie Cabbie [ Thu May 10, 2012 10:11 pm ]
Post subject:  Re: Law Commission Report underestimates our earnings (big t
Sussex wrote:
Quote:
1.54
The taxi and private hire vehicle industry today is a significant contributor to UK economic activity. The Department for Transport’s latest statistics indicate that there are nearly 300,000 licensed taxi and private hire vehicle drivers in England and Wales driving 78,000 taxi vehicles and 155,000 private hire vehicles. Total revenue is estimated at £1.4 billion a year. In 2011 London, with an estimated 29% of taxis and 33% of all private hire vehicles, accounted for a disproportionately large share of industry activity.

Oh dear. :sad:

So we have 233,000 licensed vehicles accounting for £1.4 billion a year.

Simple maths, which I would hope those at the Law Commission have gained, leads to 233,000 divided by 1,400,000,000 = £6,008 a year, divide that by 50 = £120.17p a week.

Now I know things are a bit iffy at present, but they ain't that bad. :sad:

So please those at the Law Commission, get the basics right, and don't take what the spivs, cranks and Saturday night workers tell you.

FFS speak to full time drivers.

If you look at the fact that vehicles don't earn money but the 300,000 licensed drivers do [if you understand my drift], then shouldn't you be dividing the £1.4bn by the number of drivers and not the number of vehicles?

And that would make the Law Commission's maths even more stupid!
Author:  Sussex [ Thu May 10, 2012 10:22 pm ]
Post subject:  Re: Law Commission Report underestimates our earnings (big t
Brummie Cabbie wrote:
If you look at the fact that vehicles don't earn money but the 300,000 licensed drivers do [if you understand my drift], then shouldn't you be dividing the £1.4bn by the number of drivers and not the number of vehicles?

I considered that, but I was in a generous mood.

But you make a good point, especially as some taxis/PH are double shifted.

And what makes me concerned is that I'm only on page 25.

It would be more but I haven't been off the phone today speaking to many people who aren't in a good mood about this report.

Can't wait till I get to the cross-border bit. :sad:
Author:  captain cab [ Thu May 10, 2012 11:32 pm ]
Post subject:  Re: Law Commission Report underestimates our earnings (big t
You guys earn how much?????? Rich southerners ffs

Well done Sussex......considering they employ an economist I'd have thought maths would have been a specialist subject.....still it all goes together well with the rest of the fairy story!

CC
Author:  Chris the Fish [ Fri May 11, 2012 12:40 am ]
Post subject:  Re: Law Commission Report underestimates our earnings (big t
captain cab wrote:
You guys earn how much?????? Rich southerners ffs

Well done Sussex......considering they employ an economist I'd have thought maths would have been a specialist subject.....still it all goes together well with the rest of the fairy story!

CC

They probably got the Economist who isn't numerate.
Author:  toots [ Fri May 11, 2012 12:44 am ]
Post subject:  Re: Law Commission Report underestimates our earnings (big t
Chris the Fish wrote:
captain cab wrote:
You guys earn how much?????? Rich southerners ffs

Well done Sussex......considering they employ an economist I'd have thought maths would have been a specialist subject.....still it all goes together well with the rest of the fairy story!

CC

They probably got the Economist who isn't numerate.


They probably got the Economist that was educated in the same place as the current chancellor :roll:
Author:  Chris the Fish [ Fri May 11, 2012 12:50 am ]
Post subject:  Re: Law Commission Report underestimates our earnings (big t
You don't think he's got a job on the side do you?
Author:  toots [ Fri May 11, 2012 12:53 am ]
Post subject:  Re: Law Commission Report underestimates our earnings (big t
Chris the Fish wrote:
You don't think he's got a job on the side do you?


Nothing surprises me :lol:
Author:  Dusty Bin [ Fri May 11, 2012 2:55 am ]
Post subject:  Re: Law Commission Report underestimates our earnings (big t
TX11 CAB wrote:
Maybe I'm being a bit thick, but I read it as meaning revenue for the country, tax on fuel, tax on vehicles and parts tax on repairs tax on insurance and.... Road tax.


Why on earth would you possibly think that?
Author:  Dusty Bin [ Fri May 11, 2012 3:02 am ]
Post subject:  Re: Law Commission Report underestimates our earnings (big t
Sussex wrote:
I'm not paying £500+ for the report, but the flyer for the report indicates it might be takings, not tax revenue. I think. :?

http://www.ibisworld.co.uk/market-resea ... ation.html


And did you read this bit from the extract (emphasis added):

Quote:
Although the black cab segment is highly regulated, the PHV segment was deregulated in 1998. Prior to 1998, every local authority in the United Kingdom, except London, regulated the private hire trade. In 1998, the private hire vehicles (London) Act was introduced. The act gave responsibility of national regulation to the Public Carriage Office...


You literally would have to make it up....

Don't think I'll be paying the £500 to read it all [-(
Author:  Dusty Bin [ Fri May 11, 2012 3:20 am ]
Post subject:  Re: Law Commission Report underestimates our earnings (big t
Notice that the IBIS summary stats give the following figures:

Revenue £1 billion

Employment 37,311

Perhaps the revenue figure is just the £1.4 billion rounded to the nearest billion.

So if you divide 1.4 billion by 37,311 you get around £37k, which per DRIVER would seem a bit on the high side, but certainly more realistic.

So where does the 37,311 figure come from? Well for a start I'm assuming it means simply the number of people in the industry rather than people actually 'employed' as opposed to self-employed.

And these figures perhaps include office staff and office revenues rather than simply fare revenue.

So perhaps the figures only refer to a section of the industry - which is made clear in the full report - but the LC have used the figure for the whole industry, which is clearly wrong, hence the discrepancy picked up by Sussex.

Or perhaps the IBIS report in question is as cock-eyed as its take on how the PH sector is regulated.

But I can only be thankful that I can't be bothered reading the LC report if this is any indication of what lies therein. #-o
Author:  Dusty Bin [ Fri May 11, 2012 3:28 am ]
Post subject:  Re: Law Commission Report underestimates our earnings (big t
Note also that almost ten years ago the OFT claimed that industry turnover was £2.2 billion and that that was from consumer survey figures, so excluded income from business and tourist fares.

In fact I'd be interested to know how IBIS managed to come up with any kind of realistic figure for turnover/revenue at all.
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