Quebec announces $44 million to help modernize taxi industry, compensation to come later

MONTREAL — The Quebec government says it won’t be reimbursing taxi drivers immediately for the loss in value of their pricey permits but will create a body to establish future compensation.

Transport Minister Andre Fortin told cabbies gathered for an announcement in Montreal on Friday the goal is to have a dollar figure by the end of February, before the next provincial budget.

Some cab drivers have paid $200,000 for permits that are now worth as little as $75,000, in part due to increased competition, primarily from Uber.

The province did announce it is committing $44 million over five years to a program to help modernize the industry, beginning in 2018 .

The program is funded by a portion of each fare gathered from the popular service.

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Fortin says it will allow traditional taxis to incorporate new technology into their vehicles; provide access to electric vehicles and recharging infrastructure; and increase accessibility for consumers with disabilities.

The Canadian Press