Does Pay by Phone mean lower parking charges in the future?
Parking charges are set at appropriate levels to regulate demand rather than to generate revenue. This is why they vary throughout the borough, with the most expensive areas being where there is most demand. Therefore, any cost savings made by Pay by Phone parking will not necessarily mean that parking charges will go down. However, like any surplus money generated by parking management, savings can only be reinvested in projects to improve transport and streets in Islington.
