Alluded to this on the other thread, I suspect less than a third of drivers actually know the true cost per mile to run a taxi/PH.
Without going into too much detail and keeping it very very basic, and with the caveat that there are a zillion variables, it's not a bad idea to start with the number the inland revenue use for volunteer non profit cars I.e. 45p a mile.
Now as we are only paid when we are puntered up (it's fair IMO to say 50% of the time we are empty), that then means the 45p should in fact be 90p a mile just to cover our basic running costs.
Now if top of that we also have to make a living.
Again very basic but the national minimum wage is £7.50 a hour, times 40 hours a week = £300, about £15,000 a year.
Let's say a driver does 30,000 miles a year, as 50% of them will be unpaid he will need to charge at least £1 a mile just to reach the minimum wage level, and of course on top of that they will have to put the 90p a mile running costs.
So to recap that's £1.90 a mile just to meet the national minimum wage rate.
Of course on top of that will be the extra cost of insurance, and radio rents which are often £5,000 plus for PH drivers and taxis on circuits.
Am I tempting anyone new to come and join the party?