Tower Hamlets council has increased the revenue from its parking operations by 5% to £12.3m for the 2019-20 financial year compared to 2018-19.
While not an unexpected cash bonanza the £12.3m should help with the council’s stretched finances.
Or provide an excuse for another Special Responsibility Allowance freebie for Labour councillors.
The analysis was undertaken by the RAC Foundation of standardised financial returns made by 338 English councils to the Ministry of Housing, Communities and Local Government (MHCLG).
London local authority parking surpluses (£ millions)
|Kensington & Chelsea||37.3||38.8||4.00%|
|Hammersmith & Fulham||26.1||25.5||-2.00%|
|City of London||13.9||10.7||-23.10%|
|Richmond upon Thames||8.6||8.5||-1.00%|
|Kingston upon Thames||6.4||6.9||7.30%|
Source: RAC Foundation
Local Authority Parking Finances in England 2019 – 20
Between them the 338 local authorities in England had a total income of £1.746 billion from their on- and off-street parking operations in 2019-20, the same amount as in 2018-19.
Many local authorities parking revenues have been hit by Covid-19.
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