Greenwich residents face a 150% increase in the cost of car parking permits next year and visitors to the town centre could pay almost twice as much to park.
The large increases in the cost of car parking are part of a package of cost saving and revenue raising measures put together by council officers in response to budget cuts imposed by the Government.
The proposals would see the cost of a yearly resident car parking permit rise from £27.70 to £70 - a rise of over 152%. A further rise would come into effect in 2013 taking the cost to £84 per year.
Business parking permits face a 358% increase, leaping from £24.00 to £110 and then rising again to £132 in 2013.
Town centre parking is set to rise by 92% with the price per hour at Burney Street, Greenwich Park Row and Cutty Sark Gardens car parks going from £1.30 an hour to £2.50, and then rising again to £2.70 per hour by 2013.
The cost of parking in metered pays in road adjacent to Greenwich Park, such as Maze Hill, Park Row and Park Vista, will also rise to £2.50 and then again to £2.90 per hour in 2014.
The cost of parking in the park itself increased this year to bring it into line with local authority charging but a spokesperson for Royal Parks has told Greenwich.co.uk that "Royal Parks currently has no plans to increase parking charges in Greenwich Park."
New charging areas would be established in East Greenwich and Westcombe, as well as elsewhere in the borough, although council officers say that "detailed consultation will be required" and that a review would take place after six months.
The new charges are expected to come into force on April 1st, 2011. Taken as a whole, the council believes that the changes will bring in almost £2million in additional revenue a year by 2013 which would be used to "contribute additional revenue towards the cost of the parking service and enforcement operations and other transport related activities."