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English councils earn £0.75bn from parking
Date: 09 December 2016 | Author: Daniel Puddicombe
English councils generated £756m in profit in the past year from parking activities, new research by the RAC Foundation has revealed.
This is rise of 9% on 2014-15's figures, and a third higher than in 2012-13.
The RAC Foundation calculates the figures by taking income generated from parking charges and penalties and then deducting total running costs, with the rise in profits being attributed to a 4% income increase and a 2% deduction in running costs compared with the previous year.
Profits from London's 33 boroughs made up 44% of the total, while Brighton & Hove (£20.1m) and Nottingham (£13.6m) recorded the largest profits outside of the capital.
However, the RAC Foundation said Nottingham's figure is inflated thanks to the £9m income generated by its Workplace Parking Levy scheme, which is now in its fourth year of operation, and charges businesses with more than 11 or parking spaces £379 per space per year.
"These numbers might seem eye-wateringly large, but in part they reflect the growing competition for space in many of our towns and cities," said Steve Gooding, director of the RAC Foundation. "Parking charges are one of the tools councils use to keep traffic moving whilst also allowing people reasonable and affordable access to high-street shops and other facilities.
"The good news is that any profit generated by councils from on-street parking must by law be spent on transport-related activities, and as every motorist knows there's no shortage of work that needs doing," he added.
