Jeff Kennett compares new taxi reform to scrapping of East West Link

Former Premier Jeff Kennett has compared the state government’s planned taxi industry reform with the scrapping of East West Link.

He said taxi licence holders had a contract with the government.

The Victorian government announced this week it would buy back single taxi licences for $100,000, as a part of a reform package to legalise ride sharing services like Uber.

Taxi licences have been worth up to $500,000 in the past.

Mr Kennett said people invested in good faith and he fears for their mental health.

‘My concern right now, regardless of these changes, is the impact this is going to have on the welfare on a lot of people who have invested in good faith and now just seen their wealth totally destroyed by government action,’ he told Neil Mitchell.

Click PLAY below to hear the full interview on 3AW Mornings