Cheaper taxi fares?

Will cheaper taxi fares encourage more people to take taxis rather than owning a car? With more people taking taxis and less people buying cars, car park spaces can be used for other purposes. So how to introduce cheaper taxi fares. The various components of cost in deriving taxi fares need to be examined to determine how taxi fares can be lowered. With more people taking taxis, more jobs can be created in the taxi industry. With less people owning cars, this will also lead to less congestion on the roads.