The Transport for London (TfL) Board have rejected calls for a 22% fare hike for the London black cabs of the capital during the months of July and August while the Olympics are on. The change was rejected on account of the majority of drivers not wanting the bill passed with a consensus that it will harm the industry in the long term.

The TFL approved a 5.3% increase in fares for 2012 to counter the insurance and fuel cost increases of approximately 16% which has seen many taxi drivers grumble over the last year.

Because of the rejection, the Licensed Taxi Drivers Authority (LTDA) who represents 10,000 of the capitals 25,000 black cab drivers suggests that there will be a shortage in taxis. A survey of a number of their members suggested that up to 40% of their members will not go to work during the Olympics, and instead will choose to stay at home or get away and take their annual holidays.

In addition to the fare increase rejection the Olympic Route Network (ORN), which is to be used for athletes and others taking part in the Olympics that need to be on time for events, will not be used by taxis, except for off peak times when anyone can use the lanes. This is thought by many to be another critical factor in the transport debate for why the taxi drivers are choosing to stay off the roads. The traffic storm that is expected and which is building airtime is not something that the drivers want to be a part of.

If the drivers do in fact choose to go on strike as such then it will be down to the TfL to ensure that black cabs are on the road. The valuable ''knowledge'' that these drivers have of the London roads is definitely something of an asset but the majority of the modest bunch that are the black cab drivers just see this period as business as usual.

John Mason, who is a spokesman for the TfL said "the drivers will play a valuable role in ferrying people around the capital and the 5.3% increase was more than adequate in terms of providing a value for money service, whilst still doing well for themselves".