Why it's important to keep taxis viable

The cab population has dwindled to 18,000 in the face of competition from ride-hailing firms. Cab firms need to get together to stem the decline to ensure that taxis remain viable - for the public good.

To say that the taxi industry has been disrupted by ride-hailing firms would be an understatement. Decimated may be a better word.

In just five years, the industry has witnessed its combined fleet reduced by 10,000 vehicles - or more than one-third. At just over 18,000, the cab population