Income from increasing parking charges
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14
WQ.260/2019
WRITTEN QUESTION TO THE MINISTER FOR INFRASTRUCTURE
BY DEPUTY R.J. WARD OF ST. HELIER
ANSWER TO BE TABLED ON TUESDAY 18th JUNE 2019
Question
What is the projected yearly income of increasing parking charges by the following rates per hour (p/h)?
- 5p p/h increase;
- 10p p/h increase;
- 15p p/h increase; and
- 20p p/h increase.
Answer
The expected increase in income p/h
- 5p p/h increase; £ 375,000
- 10p p/h increase; £ 700,000
- 15p p/h increase; and £1,000,000
- 20p p/h increase. £1,200,000
We do not have good data for the price sensitivity of customers of States of Jersey Car Parks in relation to above RPI(Y) increases. It is expected that if significant price rises were introduced then demand would decrease, potentially increasing demand for alternatives such as increased bus ridership and potential for additional costs within the contract, should a step change in provision of services be required.
The above figures assumed a drop off in demand as unit prices increase, however, it is unknown whether these projections would reflect the actual position should the price increases shown be implemented at once. There could also be a change in usage patterns, as a one hour stay may be less price sensitive than an all day parking session.