Council income from parking during the last financial year (2022-23) not only bounced back to pre-covid levels but exceeded it, once again closing in on a £1 billion cash haul.
AA analysis of official figures released today* show that councils in England made a profit of £962.3 million, comprised of a £673.1 million surplus from on-street parking and £289.2 surplus from off-street parking.
The previous financial year (2021-22), when lockdowns were in force, saw profits fall to £317.6 million. In 2018-19, English councils enjoyed a surplus of £936.1 million, made up of £572.5 million from on-street parking and £363.6 million from their car parks.
The latest statistics from the Department for Levelling Up, Housing and Communities show that London borough councils profited to the tune of £551.3 million from parking in the street.
“Once again official statistics show that councils have turned parking into a huge cash cow, not just a service to stimulate local trade and support workers and visitors. However, the nearly £75 million or 20% crash in the surplus from car parks must be particularly worrying for cash-strapped councils,” says Jack Cousens, the AA’s head of roads policy.
“While the covid fallout, such as people working from home, and the economic downturn are factors in the decline, hikes in parking charges by councils have contributed and helped to drive more shoppers online. In effect, many local authorities are killing the goose that lays the golden egg.”
*Article Source www.aa.com