§ Mr. Galbraithasked the Minister of Transport how many shillings of each £ sterling fed into parking meters in the Greater London area are used for the administration, including both direct costs and overheads, of the parking meter scheme; and how much of the surplus revenue is available for expenditure on off-street car parks.
§ Mr. SwinglerThe latest figures we have for the whole of the Greater London area relate to the year ending March, 1965. These figures do not distinguish between money fed into meters and other receipts such as excess charges. In that year, however, the gross income from all sources was £898,673 of which £716,281 was spent on administration, investment, maintenance, servicing loans and taxation. The remainder, amounting to about 4s. in every £ of gross receipts, is available for the provision or maintenance of off-street car parks.
As from 31st March, 1966, local authorities have been exempt from taxation on this revenue, by virtue of Section 66 of the Finance Act, 1965.