From the Transport NSW website:
An additional 197 annual taxi licences will be issued, boosting the size of the city’s taxi fleet by 3.6 per cent.
Of these licences, 138 will only be available to eligible authorised taxi drivers who are, or who have applied to become, accredited taxi operators. This will give more opportunities for skilled taxi drivers to operate their own taxi. Taxi drivers are also welcome to apply for any of the other licences.
A further 30 replacement licences to cover existing licences that expire in 2011/12 will also be released.