Parking fees in Dublin city centre could be set for a significant rise next year.

The city council is considering hiking the charge by around 40% to €4.15 per hour.

It currently costs €2.90 to park for an hour in the city.

The council claims the increase in rates would offset the cost of running the service which includes collecting coins from parking machines.

However, Independent Councillor Nial Ring has warned the plan will discourage people from doing business in the city:

“Motorists are welcome,” he said. “Your money is vital to the running of the city.”

“We have to take a systemic approach to this; not just, ‘let’s attack the motorists.’

“They are the ones who come in and buy all the goods which helps employment and helps keep the city centre alive.

The planned hike would be the first in a decade – and would require approval from city councillors.

The number of paid parking spaces in the city centre has decreased by 6,000 to just over 29,000 since the last increase in 2008.