Traffic cameras monitoring Bank Junction following the recent ban on cars and trucks are on course to rake in up to £50million a year in fines, according to reports.
The seven cameras trained on the junction are currently generating more than £16,000 per hour in fines from drivers who are either unaware of, or unwilling to follow, the new rules prohibiting vehicles except buses and bicycles, according to the Daily Star.
The new measures were introduced in May by the City of London Corporation to improve safety for pedestrians and cyclists.
There was an initial two-week grace period after the ban was brought into effect, but since then figures show that 41,948 penalty notices were issued to drivers between 7 June and 14 July, each carrying a fine of £130.
Conservative MP Charlie Elphicke has accused the City of London of ‘fleecing’ motorists – rather than focusing on safety.
However a spokesperson for the City of London Corporation said the ban will cut down on crashes and reduce pollution and congestion.
“Our number one priority for the experimental scheme at Bank Junction is to improve safety. For too long it has been one of the Capital’s dangerous hot spots.”