Road accidents are costing the UK £15.12 billion a year, with deaths representing £1.74 million of that total.
The figures reveal £7.26 billion is spent on ‘human costs’ such as dealing with human suffering of the victims and their families, according to the latest government estimates.
£1.92 billion is spent on loss of earnings, £471 million on medical and ambulance costs, £4.71 billion on damage to property including to vehicles, £213 million on police costs and £139 million on insurance and administration.
It is believed the figure could, in fact, be £34 billion if unreported injury accidents were taken into consideration.
Road safety minister Stephen Hammond commented: “Road deaths in Britain are now at their lowest levels since records began and our roads are among some of the safest in the world, which is welcome news.
“But let’s not forget that each road death represents the tragic loss of someone’s loved one. That’s why there is no room for complacency and why the Government will continue to crack down on the most dangerous drivers and improve training to make our roads safe for everyone.”
1,713 people killed were killed in road accidents reported to police, latest figures reveal. A provisional estimate suggests drink-driving fatalities in 2012 increased by 17 per cent on the previous year, up to 280 cases.