This report looks at the ‘new economy,’ (peer-to-peer markets) - specifically, ride-sharing services, and outlines options for regulation and taxi industry compensation.

Findings:

• Ridesharing services are operating without licences and without being subject to regulation in Victoria.
• Ride sourcing services can be defined as taxi services, even though the method to book these services is technology based, and should therefore be subject to regulation.
• Traditional taxi industry stakeholders have invested in assets that have now lost their value and should be compensated to assist them in their transition to new industry standards.
• The unfair advantage to commercial passenger vehicle services that are booked through ridesharing technology requires redressing, both through regulation and through transition provisions for traditional taxi services.
• Establishment of a level playing field for all commercial passenger vehicle operations in Victoria is essential policy.