'The London Cabbies' first release, called 'We'll Take You There', names many of London's famous landmarks.
The group - called 'The London Cabbies' are releasing 1,000 CDs initially and are hoping to raise money for:
The London Taxidrivers' Fund for Underprivileged Children
London Taxi Benevolent Association for War Disabled
The Albany Taxi Charity Fund for Children with Special Needs
Southend Fund for Underprivileged Children
East London Cabbies
The Transport for London Board approved a taxi fare increase of 5.3 per cent at a meeting on 2 February 2012. Taxi fares are subject to an annual review and are calculated using a long-established formula based on the costs associated with working as a licensed taxi driver.
The Board also approved a 20 pence increase to the £2.20 flag fall - which is the minimum fare applied to the meter when a passenger gets into the taxi. This increase will apply across all tariff bands and is the first increase to this fee since 2005.
In the last year the price of fuel and the cost of insurance have both increased by 16 per cent. Taxi fares are reviewed annually and calculated by TfL based on a cost index that has been used since 1981. The new taxi fares will come into effect from 14 April 2012.