There aren't medallions in the UK; the supply of taxi/private hire drivers is slightly restricted by licensing requirements (which are pretty loose for private

There aren't medallions in the UK; the supply of taxi/private hire drivers is slightly restricted by licensing requirements (which are pretty loose for private hire drivers in particular) but otherwise it's already an open market. This isn't market competition, it's an attempt at regulatory circumvention - getting tight control over your drivers while claiming them to be autonomous and self-employed to avoid minimum wages and the payment of National Insurance contributions and sick pay - which seems to have failed.