Londoners Pay £1 Million In Fines And Parking Fees Every Day

Thu 4th Oct 2018

London boroughs and councils made a huge £362 profit from parking fees and fines, but spend very little of the cash on improving the regions roads.

A new report published by the ITP shows that less than a quarter of the funds are used on repairing the capital’s roads, with the bulk of the money going on subsidising public transport fares such as free travel for over-60s and Zip Oyster cards for children aged five to 10.

With UK’s capital often choked with traffic, and finding a car parking spot often a nightmare, it may shock some to discover that the provision for off-street parking and safer car parking facilities is only 0.3% of that profit. Despite that lack of investment, the report also states that the London boroughs are paying out £241 million to deliver parking services to the capital’s drivers - £30 per person living in the capital.

Julian Bell, Chair of London Councils’ Transport and Environment Committee, said: "Many people only think about parking when they have a bad experience, such as when they can’t find a space or if they do receive a parking ticket.
"This means it is easy to misunderstand why councils and TfL manage parking services.
"However, with nearly 10 million journeys made in the capital daily, our report shows that parking management makes a major contribution to London’s economy, worth £3.58billion, and every pound invested in parking services benefits our city 10 times over.
"London boroughs use a range of parking measures in different parts of the capital to ensure people, goods and services can move around the city safely and efficiently, incentivising cleaner and healthier forms of transport whenever possible."