Taxi plate owners have vented their frustrations over unfair compensation, calling on the government to act.

5,000 families have been waiting seven years for compensation for plates purchased for at least $350,000 each that are now worth $20,000.

Ben Fordham has been fighting on behalf of these families, to convince the government to do the right thing by the owners.

Transport Minister David Elliott is working on a new package with Treasurer Matt Kean.

Several taxi plate owners joined Ben Fordham on-air to tell their stories.

“We are living a nightmare … it is so cruel what the government has done to us,” Roula told Ben.

Press PLAY below to hear their calls

Image: Getty