Cash-strapped councils have turned parking into a “huge cash cow” as they collect almost £1bn.
New figures released by the Department for Levelling Up, Housing and Communities revealed that councils made a profit of £962.3m in the past financial year. This comprised a £673.1m surplus from on-street parking and £289.2m surplus from off-street parking.
Experts have warned that the figures for this financial year will likely pass the £1bn mark after councils across the country announced double-digit rises in fees from April.
