Redbridge Council will consider a proposal to cut the resident parking permit by £10.75 for the first car in each household from next April.
The recommendation by the environment committee has been made in time for the council’s final budget decision in March.
The council leader believes this shows how council are working with the borough’s residents to help cope with economic pressures.
Cllr Prince said: “I think a lot of people were worried that this was going to be something of a cash cow and the parking charges were going to go up.
“But we have brought them down.
“This further demonstrates that we recognise the [financial] pressure people are under.”
The current price of a first car parking permit for each household is £55.75.
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