Britain has world’s most expensive parking

It will come as little surprise to London motorists that the city has once again topped a league table of the world’s most expensive places to park.

Monthly parking rates in the city of London now exceed £700 according to research firm Colliers

Motorists outside the capital pay less eye-watering rates; parking costs less than 20p per hour in many areas.

Can parking be too cheap?

Those that suggest that local councils should raise parking rates in their own car parks in order to reduce congestion often draw fierce criticism, but in many cases parking is subsidised – the land used for the car parks would be worth more if it was used for something else such as office space.

The ETA believes that when they are part of a well-thought-through transport policy, parking charges can have a positive environmental benefit by encouraging people to walk and cycle more.