Motorists caught doing 51mph in a 30mph zone or 101 mph on a motorway will be fined at least 150 per cent of their weekly income under the new guidelines.
The tougher punishments for drivers who fall into the band C category of speeds were announced by The Sentencing Council, which wants a “clear increase in penalty” as the seriousness of offending increases.
Currently in the UK the minimum penalty for speeding is a £100 fine and three penalty points on your driving licence, while the maximum fine is £1,000 or £2,500 for motorway offences.
The new Band C fines will allow the worst offenders to face fines of between 125 and 175% of their weekly income - with the starting point for magistrates in most cases set at 150 per cent.
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Those caught driving at more than 101mph in a 70mph speed limit could be disqualified for up to 56 days and get a fine of up to 175 per cent of their relevant weekly income.
People found guilty of more serious offences will see their fines leap from £1,000 to £2,500 from today.
RAC road safety spokesman Pete Williams said: “Anyone who breaks the limit excessively is a danger to every other road user and is unnecessarily putting lives at risk. Hopefully, hitting these offenders harder in the pocket will make them think twice before doing it again in the future.
“While greater sentences for excessive speeders are obviously a deterrent, the best deterrent of all is more effective enforcement.”
t follows responses to a consultation arguing previous guidelines did not properly take into account the increase in potential harm that can result as speed above the limit rises.
The new guidelines will be used to sentence adult offenders in all magistrates’ courts in England and Wales from April 24.
Speed cameras in Derbyshire until Sunday May 7: