With 4 out of 5 of Taxi Operators here in Singapore, announcing that they will be raising their prices in tandem with ComfortDelgro, perhaps it is time for us to start thinking about how we can liberalize the market again to bring some form of real competition into the picture.
Bring back the Yellow-top taxis. Allow individuals to own their own vehicles again. Let them set the price. Let them decide how to conduct their business and then we’ll have a real free market. PTC can come in to make sure that no player undercuts each other to a point of becoming loss leaders, but keep government regulation to the minimal. Safety and Comfort has to be regulated but everything else, let the capitalists decide how much to set on their own.
With real competition, the real winners would be you, the commuters. Let us bring back entrepreneurship.