'Local councils are set to rake in more than £1billion profit from parking for the first time, a report reveals today.
Data shows English authorities are due to make a £913million ‘surplus’ from parking fees and penalties this financial year.
But an RAC Foundation audit suggests the authorities have underestimated income from on-street parking and car parks by between 9 and 10 per cent in recent years.
This puts local authorities on course to generate more than £1billion for all parking income, including charges, residents’ permits, and penalties.
The findings were based on analysis by transport consultant David Leibling of budget figures provided by 343 English councils to the Government.
Many of the biggest predicted parking surpluses are in London, with Westminster having the largest (£72.1million) followed by Kensington and Chelsea (£36million).
The biggest amount outside the capital was reported by Brighton and Hove (£24million).
RAC Foundation director Steve Gooding said: ‘It would be no surprise at all if English councils soon breached the one billion-pound mark, which is quite a windfall from a service that is intended to be all about managing traffic.’
Councils insist they do not make a profit on parking because the money is reinvested in transport and roads.
But campaigners complain that motorists see little benefit given the state of many local roads.'
Read more: Councils set to rake in more than £1billion in profit from parking fees and penalties
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