Ray Hadley is slamming a planned buyback of taxi licenses that would leave drivers out of pocket.

Proposed reforms would see taxi licenses scrapped, with the government considering compensation of about $50,000 despite plates being bought for nearly $400,000.

“What the government is proposing is basically the destruction of the taxi industry in NSW,” Ray Hadley said.

“I can’t believe that a Liberal National Party government would want to do this to small business.”

NSW Taxi Council CEO Martin Rogers told Ray the buyback scheme will be capped at two licenses per driver.

“We need to get appropriate compensation for all the assets lost since 2015.”

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