The main purpose of this year’s annual review is to reweight the Taxi Cost Indices (TCIs) so that it resembles the structure of costs faced by the industry as closely as possible. This involves working out how much each cost contributes to the total cost of providing taxi services. For this process, the absolute level of each cost does not matter as much as its relative contribution to the total.
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Roundtable Discussion Paper 3 - Level of fare revenue compared with costs - February 2012
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