English Councils Make Record Parking Profits
£700 million, that's the profit English Councils made from parking fees and tickets
Research by the RAC Foundation revealed that 2015 was a record year in terms of profit for parking fees and charges rising to exactly £693, almost £2m per day rising 4% since 2014.
The rise seems to be directly correlated with the increase in parking operations such as tickets and fines.
The five biggest earners are withing London and 40% of these profits correspond to 40% of these record high profits. As usual, Westminster council gets the most out of it with £46.6m surplus.
Yet, not all councils have provided their figures which leaves a margin for progress.
Be reassured, that money won't go in the local politicians pockets as the law states that "parking profit can only be spent on transport and environment projects."
Let's hope this money is going to be used properly.