The government’s new ‘Parking Code of Practice’ will see fines cut by up to 50 per cent in the majority of cases, saving motorists millions of pounds each year.

The proposals include a maximum cap for parking fines, a 10-minute grace period before a late fine can be issued, and a requirement for parking firms to clearly display pricing and terms and conditions.

In England outside of London and in Wales, charges will be reduced from £100 to £70 or £50, depending on the seriousness of the breach.

Private firms which breach the new Code could even be barred from collecting fines from motorists at all.

The government argues that private parking firms are currently able to hide behind n”on-specific, pseudo-legal and aggressive language when pursuing motorists” and that the Code of Practice will provide new higher standards.

Rogue firms which break these rules could be barred from requesting Driver and Vehicle Licensing Agency (DVLA) data, making them unable to pursue motorists for their charges through the post.

A new, simpler appeals process is also being created, to make it easier for disputed fines to be cancelled.

The measures will be a major boost to millions of motorists in England, Scotland and Wales and will help to draw people back to their local high streets by eliminating the fear of being unfairly caught out.