Amid reports of Baird government legalising Uber in New South Wales by the end of the year, Nick Foley, the opposition leader of NSW, thinks taxi owners should be compensated in some form. The news comes after NSW Premier Mike Baird dismissed reports of legalising Uber.

"You can't wish ride-sharing out of existence so this is overdue that the government ... puts in place some sensible regulation that ought to involve compensation for taxi-plate owners for the loss of value of their plates," Foley said, according to the Sydney Morning Herald. Although he acknowledged that equal compensation was not possible, yet a licence fee on Uber to regulate them properly could act as a limited compensation for taxi-plate owners.

Meanwhile, Baird said authorities were assessing to bring in reforms in the taxi industry of the state. However, he said his government did not yet go beyond considering the report, which mentioned about legalising Uber in the state and its drivers would be forced to pay a licence fee.

Roads Minister Duncan Gay said any kind of compensation was up to the cabinet as part of a review of ride-sharing services such as Uber. He said that getting a licence from the government would alter the situation.

Baird said that the independent report would go before Cabinet in "due time" but added that the government was focusing more on creating a "level playing field" for taxi drivers as well.

Foley further said that he would welcome government reforms to legalise Uber, given that drivers would be able to hold a licence. "Outlawing a method of transport service in ride-sharing that's simply here to stay – that's not going to work [and] that's not going to solve the taxi industry's problems," he added.

Foley also feels that passengers who prefer taxis as a mode of transport should have the freedom to continue doing so.

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