Local councils in the UK have collectively earned more than £242 million from residential parking permits since 2016, according to new research by Churchill Car Insurance.
In 2018 the income generated by the permits was £77.2 million or the equivalent of £200,000 per day, while in 2017 the permits raised £87.6 million.
Between 2016 and 2018 the number of roads requiring permits increased by 2,500, while the number of parking permit applications decreased from over 2m in 2016 to 1.4m in 2018. In London, an estimated 6,604 roads required a parking permit in 2018.
The cost of parking permits varies across the UK due to a range of factors. In the London Borough of Lambeth, the price depends on vehicle emissions or engine size. In Norwich, the cost depends on the length of a vehicle while in Edinburgh the street location and vehicle emissions affect the price.
In February 2018 Redbridge Council introduced new parking rules on Wanstead High Street and in surrounding roads following a controversial public consultation. The new scheme included the introduction of residential parking permits for certain roads costing £20 for a 12 month permit for one vehicle and £100 for a second 12-month permit.
According to the latest Parking Annual Report 2017/18, Redbridge Council received income of £1.65m from on street parking, which included money received from residential parking permits. The £7.085m surplus generated from the overall Council parking account, which included income generated from parking enforcement, traffic contraventions, on street parking and off street parking was used to “fund Concessionary Transport and other transport and highways-related improvements”.