Author: Victoria

Toronto’s Uber decision to hike ride-sharing prices is a temporary solution

Toronto’s Uber decision to hike ride-sharing prices is a temporary solution

Uber warns of higher prices and longer wait times following Toronto’s decision to freeze new licences for ride-hailing companies.

Uber says the price hike will start in the coming months, will affect new riders seeking a Toronto ride-hailing licence through December 31, 2019, and will extend to the existing app-based riders until their current licences expire in December 2020.

In a statement to The Huffington Post Canada Wednesday, Uber says there is nowhere to turn on customer claims for longer wait times during these tough economic times.

“If you were expecting the government to intervene or intervene and increase the cost of doing business, you will be disappointed. We hope that the city’s decision is not an indication that Uber’s service and prices are no longer sustainable or that Uber’s approach to regulating its business has failed,” the company says.

But with no immediate solutions, the province said Thursday it is looking to partner with ride-sharing companies that have faced similar situations in the past to find temporary solutions that won’t have an impact on ridesharing services.

“We’re very encouraged by the response to our request for help in the past couple of years,” said Jason Chipman, ministry director of business development and government relations, in a news conference.

“I think it’s reasonable for the city to be looking for new ways to regulate ride-sharing. I’m confident that we will be able to find a way to meet the needs of the city and ride-hailing companies in the short, medium and long term,” Chipman said.

The ministry has not provided details on what exactly that temporary solution is yet, as all talks are confidential.

In announcing the decision, Mayor John Tory said that “today, Uber’s business model threatens our streets and the lives of our residents on a daily basis.”

Tory said he is committed to a long-term solution to the issue, but

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