English councils raised a record £819m profit from parking fines and charges in 2016 – a 10 per cent increase on the previous year, a study has found.
Data obtained by the RAC Foundation revealed that £819m was raised from parking from 353 local authorities in England during the 2016/17 financial year.
The RAC has said that the record profits have come from an increased number of cars on UK roads.
The figure is made up of both parking fines and charges, and the profit calculated by deducting the running costs of the car park away from the total amount generated. The data was analysed from the annual returns that councils have to make to the Department for Communities and Local Government.
The profit is 10 per cent higher than what was recorded in the 2015/6 financial year – where a surplus of £744m was seen.
This profit – or surplus – is to be re-invested in to local transport projects.
The highest profits recorded were seen in London, with Westminster making a surplus of £73.2m, followed by Kensington and Chelsea with £32.2m.
Away from London, the other largest amounts were recorded by Brighton and Hove (£21.2m) and Milton Keynes and Birmingham (£11.1m each).
Steve Gooding, director of the RAC Foundation, said: “The upward path is in part a reflection of the record number of cars and volume of traffic.
“The silver lining for drivers is that these surpluses must almost exclusively be ploughed back into transport and as any motorist will tell you there is no shortage of work to be done.”