XN000022-1986-06-04 — Page 20

WEDNESDAY, JUNE 4, 1986

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RESTRICTIONS ON TAXI LICENCES RULED OUT

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THESE SEEMED NOTHING TO GAIN BY RESTRICTING THE ISSUE OF NEW TAXI LICENCES TO OWNER-DRIVERS, OR FORBIDDING THE TRANSFER OF TAXI LICENCES WITHIN A SPECIFIED PERIOD, THE SECRETARY FOR TRANSPORT, THE HON 1AN MACPHERSON, SAID IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).

HE WAS AGAINST SUCH MEASURES IN PRINCIPLE AND HE HAD NO INTENTION OF MAKING RECOMMENDATIONS TO INTRODUCE THEM.

REPLYING TO A QUESTION BY THE HON HILTON CHEONG-LEEN,

MR MACPHERSON SAID HE APPRECIATED THE CONCERN ABOUT THE POSSIBILITY OF TAXI LICENCES BEING MONOPOLISED BY BIG COMPANIES FOR SPECULATIVE PURPOSES, BUT THESE WORRIES WERE NOT BORNE OUT BY FACTS.

+SOME 95 PER CENT OF THE WHOLE TAXI FLEET IS ALREADY OWNED BY INDIVIDUAL OWNER-DRIVERS, THE REMAINING FIVE PER CENT OR 740 LICENCES BEING DISTRIBUTED AMONGST 46 COMPANIES,+ HE SAID.

+THIS DISTRIBUTION PATTERN DOES NOT SEEM TO INDICATE THE EXISTENCE OF A MONOPOLY AND DOES NOT CALL FOR THE INTRODUCTION OF RESTRICTIVE MEASURES TO LIMIT THE ISSUE OF NEW TAXI LICENCES TO OWNER-DRIVERS.+

AS REGARDS SPECULATION, A RECENT REVIEW HAD REVEALED THAT THE AVERAGE TENDER PREMIUM FOR TAXI LICENCES HAD ACTUALLY DECREASED IN REAL TERMS BY 23 PER CENT FOR URBAN TAXIS SINCE 1977 AND BY ABOUT 90 PER CENT FOR NEW TERRITORIES TAXIS SINCE 1980, MR MACPHERSON SAID, ADDING THAT THIS WAS CONTRARY TO THE POPULAR BELIEF THAT SPECULATION HAD PUSHED UP THE TENDER PREMIUM FOR TAXI LICENCES.

+ IN ANY CASE, IT WOULD BE EXTREMELY DIFFICULT TO ENFORCE A PROHIBITION ON THE TRANSFER OF TAXI LICENCES AND SUCH A PROHIBITION WOULD MOST LIKELY RESULT IN A BLACK MARKET AS LONG AS THERE IS A DEMAND FOR TAXI LICENCES,+ HE SAID.

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