Profits from parking fines and tickets have swelled council coffers by 10 per cent in a year, reaching a high of £819 million, research has found.
The money was generated from the on and off-street parking activities of the 353 local authorities in England during the 2016/17 financial year, research found.
It represents a 10 percent leap on the 2015/16 surplus of £744 million. Income was up six percent and costs rose two percent in the past year. Most councils make a surplus on their parking activities, and this is to be spent on local transport projects. Martin Tett, the Local Government Association’s transport spokesman, claimed councils must “strike a balance” when setting charges in a bid to ensure there are parking spaces available.
“Income raised through on-street parking charges is spent on running parking services and any surplus is only spent on essential transport projects, such as tackling our national £12 billion roads repair backlog and creating new parking spaces.”