COUNCILS in England are set to rake in a record £1billion this year from parking fees.
They admitted they will get a £913million surplus from charges and penalties — but for the last three years they have underestimated the figure by around ten per cent.
Research for the RAC Foundation said this means the total for 2019-20 could well top £1billion.
Some 278 of the 343 councils expect a surplus from parking, while 65 say they could break even or incur a loss. Any money made from parking activities must be spent on local transport projects.
Any money made from parking activities must be spent on local transport projects.
RAC Foundation director Steve Gooding said: “It would be no surprise at all if English councils soon breached the one billion-pound mark for the amount they make annually from parking, which is quite a windfall from a service that is intended to be all about managing traffic.
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Highest surpluses will be in London, with Westminster making £72.1million. The biggest outside the capital will be Brighton and Hove with £24million.
The biggest amount outside the capital was reported by Brighton and Hove (£24.0 million).
RAC Foundation director Steve Gooding said: “It’s quite a windfall from a service that is intended to be all about managing traffic.”
The study was carried out by transport consultant David Leibling, who analysed budget figures provided by English councils to the Ministry of Housing, Communities and Local Government.
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