Taxi Driver Online

This will be an interesting one to watch. Especially the matter of having an
"all-Island ply-for-hire taxi service" and as to whether some areas will have a decrease in available taxis..... and others an abundance.

Additionally, it will also be interesting to see how the knock-on effect of devaluing plates.

Will this create a situation where more people will enter the trade and the trade booms?

Or will there be a situation whereby the trade stands still in regard to ongoing investment with people regarding it a temporary career move?

I have no knowledge of the trade in the Isle-of-Man but my thinking is :

That the cabs will ply hire where the trade mostly is leaving other areas unserved..

That because there is no value in the plates ,every one who wants to earn a bit of extra cash will have a taxi (unless there are vehicle type restrictions and other restrictions)

That those already in the trade will suffer the most having to now deal with all the extra cabs.

That those in the trade who have purchased plates (rightly or wrongly) will see their investments wiped out.

That the public will initially have an abundance of taxis to hire in the street and will be well served.

That eventually the taxi trade will totally become that of a part time job.

An interesting one to watch.

I think the surity should sort out the part timers. £5,000 is no small amount of money

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Note to self: Just because it pops into my head does NOT mean it should come out of my mouth!!

You may be correct but I dont see how the "surety" will work, and would probably be open to challenge.

A surety bond is issued by an entity on behalf of a second party, guaranteeing that the second party will fulfill an obligation or series of obligations to a third party. In the event that the obligations are not met, the third party will recover its losses via the bond

or

A surety is a person who agrees to be responsible for the debt or obligation of another. Furthermore, a surety is also a "security against loss or damage or for the fulfillment of an obligation, the payment of a debt, etc.; a pledge, guaranty, or bond.

The situation in which a surety is most typically required is when the ability of the primary obligor or principal to perform its obligations under a contract is in question, or when there is some public or private interest which requires protection from the consequences of the principal's default or delinquency. In most common law jurisdictions, a contract of suretyship is subject to the statute of frauds (or its equivalent local laws) and is only enforceable if recorded in writing and signed by the surety and the principal.

If the surety is required to pay or perform due to the principal's failure to do so, the law will usually give the surety a right of subrogation, allowing the surety to "step into the shoes of" the principal and use his (the surety's) contractual rights to recover the cost of making payment or performing on the principal's behalf, even in the absence of an express agreement to that effect between the surety and the principal.

You could well be right but it'll still make for interesting watching to see how they play it all out. Perhaps they will change the surety to something else that means they can

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Note to self: Just because it pops into my head does NOT mean it should come out of my mouth!!