A "large" taxi fare increase has been proposed by the National Transport Authority in an attempt to bring drivers back to the industry.
Around one in ten drivers left the industry during the most intense two years of the Covid-19 pandemic.
There have been numerous complaints from revellers being stranded in the city after nights out due to a complete lack of taxis.
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The 12.5% increase to taxi fares - around an €2.50 increase to a €20 fare - is being proposed to entice the drivers lost during Covid back to the industry.
National Transport Authority CEO Anne Graham defended the proposed increase which would be the first since 2017-2018.
She said: "So that's five years since there's been any increases on taxi fares. So that represents about two and a half to three percent a year, which is reasonable if you think about the increase in the cost of living over those years."
The NTA are also trying to ensure there are more drivers available at night during peak times.
There have been numerous social media posts criticising the lack of taxis for people trying to make it home after a night out.
Ms Graham said: "So we've rebalanced the fares a little bit to ensure that there is more of a payment in the evening period - in the premium period - to encourage more drivers to be available at those times."
The NTA boss said about nine percent of taxi drivers have left the industry over the two years of intense Covid-19 restrictions which the authority hope will return to the industry for the increased fares.
Ms Graham added that the authority plans to make cashless payments mandatory in all taxis. Around 92% of taxis currently have cashless options.
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