The news that taxi fares will soon be increased for the first time in more than a decade is being welcomed as an early Christmas gift for taxi operators.President of the Barbados Transport Cooperative Society Delwyn Layne and president of the Bridgetown Port Taxi Co-operative Adrian Bayley said the hike is long overdue and will allow people in the industry to earn a meaningful living.Their comments follow the disclosure by Deputy Prime Minister and Minister of Transport, Works and Water Resources Santia Bradshaw that Government had “favourably considered” the application by operators for a fare increase.Speaking at the signing of a Memorandum of Understanding (MOU) Compact involving members of the transportation sector on Friday morning, she said operators deserved the increase.