Mr. Speaker, I congratulate the Greater Toronto Airport Authority for its recent initiative in instituting a new ground transport taxi permit system at Toronto's Pearson International Airport. The GTAA has demonstrated industry leadership in developing a fairer system, which benefits the travelling public.
The new system lowers economic barriers to entry for new taxi drivers. The cost had exceeded $200,000 in the secondary market. The public will no longer have to bear the imputed cost of this entry capital. The number of licences issued will now match demand, and market sensitive fees will generate fair revenues for airport overheads.
I also thank the city of Mississauga mayor and council for working with the GTAA, allowing access by licence holders to city taxi permits on a restricted basis for use in connection with airport ground transport.
The public is now seeing better service and more efficiency at Toronto airport. We are excited by the future potential of our new airport terminal now being built by the hardworking Pearson airport team.