Traffic congestion is costing British business £767m a year in lost productivity, as drivers are wasting more time stuck in traffic jams than any other country in Europe, it has been reported.
If the trend continues at the high rate, it could cost motorists £62 billion by 2025.
Inrix, a transport information company, identified more than 20,000 congestion ‘pinch points’ in 21 cities across the UK, where traffic gathers.
£42bn could be the cost for London drivers alone over the next decade, as analysis of the average duration, length and frequency of the hold-ups in September this year found this to be the cost of traffic hotspots.
According to Inrix’s analysis, a road becomes a “traffic hotspot” once congestion forces drivers to drop their speed by 65% for at least two minutes.
The news comes just days after the release of two separate reports stating that the government pledged £220m in the Autumn Statement to tackle congestion on motorways and major A roads.
The report said the capital’s worst section of road for congestion is the M25 northbound between junctions 15 and 16, near Heathrow Airport.
In second place was Edinburgh at £2.8 billion, followed by Glasgow (2.3 billion), Birmingham (£2 billion) and Manchester (£1.9 billion).
The estimated £62bn cost to drivers was calculated using value of travel time figures from a Department for Transport-commissioned report.
However, to help tackle the problem, Chancellor Philip Hammond promised an extra £1.3bn to be spent on improving Britain’s roads in the Autumns Statement.
Graham Cookson, chief economist at Inrix, stated that identifying where delays are having the biggest impact can allow for the most efficient use of investment.
He said: “Let’s make sure we focus spending on those worst-hit hotspots because, given the amount of money, we want to get the most benefit out of it.”