Between 2007 and 2010 the amount of revenue that local authorities have generated has risen by around £75 million to around £940 million. Much of this revenue seems to have come from parking tickets and in the period the number of additional parking tickets was worth nearly £100 million.
The cost of parking on and off the street has also increased by around 10%. If you include penalty notices then the amount of money that has been raised by local authorities is over £1 billion.
There is a downside to the increased charges associated with parking for many people are saying that trade in in town centres has decreased because people are less willing to travel in. A representative from the British retail Consortium, Richard Dodd, has recently commented, “Unfortunately, councils see parking charges as a way to raise their revenues and they don’t realise the significant impact they are having on high Street retailers.”
Westminster, in central London, is the council charging the most for parking and it is expected that they will bring in around £90 million through parking charges per year in the near future as they are planning to charge for parking on single yellow lines.