Download - Economics of Parking
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Parking Community service or revenue raiser
An economist’s perspective
COLI N BUCHANAN
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Question time Job well done Serves her right Money in the bank Who cares A disaster
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Why are you in the parking business? Managing excess
demand Prioritising conflicting
demand Raising revenue Attracting
visitors/shoppers Reducing congestion Climate change
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Motorists confused by parking 93% motorists confused about parking
regulations 25% issued with a PCN last year 69% claim they were unfairly penalised 60% think some parking signs are
deliberately misleading so drivers can be fined
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Can you blame them
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Probably not
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Managing competing demands commuters’ cars parked
1.6m on-street 0.5m in public car parks
7m cars parked on street at home (only 40% of garages are used to park cars in)
1.2m households require resident parking permits
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Parking permits How much too
charge? Should it vary by
Location Engine size Number of cars Commercial or private
What exemptions should apply
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Paid for parking Managing excess
demand Raising revenue Attracting shoppers
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Parking a tale of two worlds Local government generated £1.3bn gross
from parking - £0.4bn gross London generates around half £560m gross
net £160m net However, of that, £110m is raked in by just
five authorities almost 100 local authorities lost money
£80m between them on parking in 2007/08
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If only it was free
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Closed shops and double yellow lines – are they related
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How do shoppers travel
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Why do you shop here Near to home 52 Wide range of goods or shops 17 Near to Work 15 Competitive prices 15 A particular shop 7 Other Services 4 Car Parking Availability 2
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Why do you shop elsewhere Wide Range of Goods / Shops 43% Near to Home 29% Competitive Prices 26% A Particular Shop 6% Other Services 4% Car Parking Availability 3%
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We have the technology
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What image would you prefer your customers to have