IF you have ever wondered how much the council is really making from parking charges and fines, these new statistics might shock you.

Transport charity RAC Foundation has revealed a staggering increase in Waltham Forest council’s parking surplus of £5.725m – 72 per cent higher than the £3.325m recorded in 2014/15.

The council’s yearly increase in parking surplus is eight times the national rise made by local authorities, which made a total surplus of £756m – up 9 per cent from 2014/15.

Next door to Waltham Forest in Redbridge, the council recorded a surplus of £3.423m this year, up a comparatively low 13 per cent from 2014/15.

Collectively, the 353 local authorities in England generated a record high ‘profit’ from their parking operations.

At just over three quarters of billions pounds, the collective figure was 34 per cent higher than in 2011/12.

RAC Foundation director, Steve Gooding said the “eye-wateringly large” figures might reflect the growing competition for space in our cities.

He said: “In 1995 there were only 21.4 million cars on Britain’s roads, today there are 30.7 million.

“Parking charges are one of the tools councils use to keep traffic moving whilst also allowing people reasonable and affordable access to high street shops and other facilities.

“The good news is that any profit generated by councils from on-street parking must by law be spent on transport-related activities, and as every motorist knows there's no shortage of work that needs doing.”

Waltham Forest council has been contacted for a response.