Councils Earn £242m From Parking Permits Since 2016
UK councils are making a substantial sum of money from residential parking permits, with recent figures showing they have accrued as much as £242 million from applications since 2016.
According to Churchill Insurance, local authorities across the country earned £200,000 in revenue from parking permits every day last year, amounting to an income of £77.2 million throughout 2018.
Drivers have been warned that the number of roads requiring permits is increasing, with 2,500 additional streets introduced between 2016 and 2018. This is an increase of six per cent.
The findings also revealed three million car users have experienced an increase in the cost of their permit in the last 12 months, and nearly half (42 per cent) believe the price is too steep.
Alex Borgnis, head of car insurance at Churchill, stated that while many motorists are disgruntled about the growing cost of parking permits, they have some benefits.
“For people who live in towns and cities, parking close to home can be a challenge, with access to available parking on many streets being in short supply. While the cost of permits can be frustrating for residents, they can make it significantly easier for people to park outside their own homes,” Mr Borgnis commented.
The cost of parking permits varies substantially depending on location, vehicle emissions and engine size. The report found that drivers could pay either £35.84 per year if they have a vehicle emitting 100 CO2g/km or as much as £306.17 per year for a car producing 225 CO2g/km or 3000+ CC.
Older motors that are less environmentally-friendly are, therefore, likely to result in higher charges for parking permits, which is another reason why ‘old bangers’ are dying out.
According to Admiral Car Insurance, cars older than 35 years are in danger of becoming extinct as people favour more secure, reliable, green vehicles.Back to Latest News