Friday, 11 January 2013

Councils rake in record profits from parking

Councils in England have raked in record profits from parking with one town hall boosting its income by more than 50 per cent in a year, official figures have shown.

Local authorities, who have seen their profit from parking increase 14.9 per cent in a year to £411 million, have admitted they are using the cash to plug gaps in their spending because of budget cuts.

The Local Government Association admitted, for the first time, that it has been able to use the cash from parking to make good losses such as the £442 million in their highways budget.

Read the full article here

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