THE cost of Redbridge Council’s failed attempt to introduce new pay and display charges has been revealed.

The cash-strapped authority spent £71,000 implementing, and subsequently removing, new charges and changing the hours of operation in streets with established schemes, including George Lane, South Woodford, Kings Avenue in Woodford Green.

Money was also spent on a consultation with traders in affected areas.

The proposal was officially dropped last week after widespread public opposition to the plans.

Residents and traders in Wanstead High Street warned the introduction of pay and display would severely hit trade as motorists would be deterred from visiting the area.

Ray Phipps, 50, of Grosvenor Road, said: “This wastage needs to be exposed.

“It’s been a ridiculous waste of money, the whole thing’s a bit of a joke.”

Neighbour and spearhead of the parking campaign, Michael Powis, 70, said: “They didn’t need to go and consult on this issue, they just had to ask us – we don’t charge anything.”

A total of £40,000 was spent providing updated signs and altering meters, while a further £31,000 was spent reversing this.

The resulting deficit for the highways department budget is £60,000 this year and £80,000 in 2012/13.

A council report states that its monthly parking revenue increased when the new pay and display scheme was introduced in April. However, it warned that it was “difficult at this stage to be confident of an upward trend.”

Ruling councillors have decided to continue to consult on plans to introduce controlled parking zones in some areas.

Redbridge Council is implementing £25 million worth of cuts over the next three years after a reduction in government funding.

A council spokesman said: "The costs to implement and reverse the required changes include the traffic management order making, advertisement in the press, replacement tariff microchip in 150 Ppay and display machines across the borough and changes necessary to all street signage."

He added: "The costs to implement these changes are unavoidable and it is regrettable that this funding had to be spent in these circumstances, but it is important that the council has listened to the concerns raised by the public and taken this major decision."

Click here to follow the Wanstead and Woodford Guardian on Twitter