Would I buy a Taxi Licence at the Moment with the Taxi Inquiry Going On??
This is a question that is asked of me at least a few times a week and I want to stress that I am not a financial planner and everyone’s circumstances are different and they should make their own enquiries with their financial professionals.
Just in case you have not been in Melbourne over the last year and you have not noticed we have a Taxi Inquiry going on. The state government appointed Professor Alan Fels (Ex ACCC Commissioner) as the Taxi Commissioner to investigate all areas of the industry and make recommendations to the government. The findings are due in the first half of this year; Professor Fels has made it no secret through the media he is concerned that investors are taking too much out of the industry through the taxi licence assignment payments. He has mentioned many times that if someone is prepared to pay $500,000 for a piece of paper (taxi licence) than this is grounds for concern.
There are many varied views on these comments by many industry and non industry stakeholders. The commission has said on many occasions that major changes will be recommended to the government. Some of these changes will be directed to Taxi Licence ownership; what they will be is only speculation at this time. Is the speculation of concern in relation to Licence values? ABSOLUTELY!!!!!
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| Last Updated on Monday, 16 January 2012 14:13 |
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