Colin buchanan

Analysis by transport and economics consultancy Colin Buchanan found that the 32 London boroughs and the City of London between them took in £560m from parking charges in 2007/08.

So joy all round for town hall treasurers? “Not quite” says John Siraut, Economist at Colin Buchanan, “taking into account the cost of enforcement, revenue collection and capital investment in parking services, London’s town halls take falls to just £160m. However, of that, £110m is raked in by just five authorities” (Hammersmith & Fulham, Wandsworth, Camden, Kensington & Chelsea and Westminster). Three London authorities actually lost money and the remaining town halls took an average of around £2m a year.

Siraut went on to say “our analysis shows there are major differences in the cost of running parking services between boroughs.” Colin Buchanan’s analysis shows that the ten best performing boroughs raise £2.25 for every £1 they spend enforcing on-street parking regulations, the worst ten performers receive on average just £1.15 for every £1 spent.

“If all local authorities were to achieve collection to spend rates of the best 10 then London boroughs would reduce their parking costs by £140m a year,” says Siraut, “meaning a substantial boost to town hall coffers at no additional cost to motorists”.

Colin Buchanan undertook a review of local authorities 2007/08 R02 returns which are made every year to the Department of Communities and Local Government. These returns detail expenditure and revenue broken down by a wide range of headings including on and off-street parking.

Click here for the Parking Review article - The Cash Cow Myth