Paul Nicolaou calls for reduced parking fees in Sydney amid million-dollar meter profits

·

Business Sydney Executive Director Paul Nicolaou has slammed Sydney’s high street parking fees, calling them a “de facto congestion tax” on the city.

Nicolaou’s comments follow revelations that the City of Sydney’s parking meters generated a staggering $41.5 million in revenue last financial year, with the highest-earning meter on Hickson Rd, Dawes Point, raising nearly $190,000 alone.

Nicolaou emphasised that exorbitant parking costs are driving businesses away from the city.

“Most people just cannot come into the city because it is too expensive, and one of the things that is driving business away from the city is the cost of parking,” he said.

Meter revenues along popular streets like Hickson Rd, Crown St, and Sussex St have sparked frustration among locals.

Sarah Saelens, a mother who parked near the Sydney Festival, expressed anger upon learning her meter contributed to nearly $200,000 in revenue.

“I didn’t realise how much money (the machine) was making,” she said.

Calls are now growing for the City of Sydney to reduce parking fees to help revive local businesses, with NRMA’s Peter Khoury arguing that charging premium rates while covering administrative costs is a “business model that would be the envy” of any CBD company.

Source: Daily Telegraph.

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

Prespes lakes face severe drought threat

Scientists are warning of the “slow death” of the Prespes lakes, as water levels have dropped to their lowest point in 35 years.

Popular mountain destination in Greece introduces ‘culture fee’ per night for visitors

Tourists staying in the Municipality of Zagori will now pay a €0.75 “culture fee” per night for hotel or short-term rental accommodations.

Greece declares 2026 a tribute year to Manos Hadjidakis

The Greek Ministry of Culture has proclaimed 2026 a year dedicated to honoring Manos Hadjidakis, the visionary composer.

Greece to deregister 285,000 inactive university students

Greece’s Education Ministry will remove over 285,000 inactive students from university records in December, Sofia Zacharaki announced

My Greek Kitchen’s Niki Louca shares her favourite Pavlova Roll recipe

Niki Louca from My Greek Kitchen shares her favourite recipe for a pavlova roll with The Greek Herald.

You May Also Like

Court hears ESTA delays may have cost Nick Panagiotopoulos his life

Nick Panagiotopoulos would likely still be alive if not for delays with the Victorian emergency call-taking service, the courts heard.

Nick Galatas: Creation of the Australian Football B League depends on us

Greek Herald sports writer Bill Roumeliotis spoke with Chairman of the Australian Association of Football Clubs (AAFC), Mr. Nick Galatos, to find out the next steps of the process.

Jim Moustakas explains why books and wine are lockdown must-haves

Jim Moustakas and Christopher Carter have teamed up to get more books and glasses of wine in people’s hands during lockdown.