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.
