Since I’m a shiny elbowed pointy shoes, it’s alledgedly part of my genetic make-up to argue against drivers on subjects such as these but…
I would not hand over my license in these circumstances. I also wouldn’t expect a driver to hand theirs over in these circumstances.
I think the licence was for collateral to make sure the reducer thingy was returned not to actually check his licence as such
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My driving licence is my personal property and contains personal information that they are not entitled to have so I would not hand it over. If ID was needed that should be provided by my employer.
When I worked on freight out of Heathrow many years ago I had security ID to go airside, even that did not require me to had over any personal documents.
BTW: What’s a reducer? I had always thought it was a plumbing component to reduce pipe sizes and nothing to do with trucks.
Probably to do with blowing powder or liquid from wagon to a tank. Fair bit o´plumbing going on there 
steviespain:
Probably to do with blowing powder or liquid from wagon to a tank. Fair bit o´plumbing going on there
That’s a different scenario as they are taking the licence as a deposit against a piece of equipment. I made sure I had my own equipment.