Speeding fines are to increase up to 175 per cent of your weekly income
The new rules, coming into play on April 24, will mean the worst offenders will be fined 175 per cent of their weekly income.
People earning the average UK wage of £28,000 will have to pay up to £942 if they are caught driving at 101mph or above on the motorway or 41mph or above in a 20mph zone.
The same number of points or disqualification will apply as before, but the highest fines will rise from a possible 125 per cent of an offender's weekly income by 50 per cent.
New rules have increased the maximum possible penalty by a massive 150 per cent – to £2,500 from the current £1,000.
The minimum fine of £100 and three points will still remain.
The maximum penalty is being increased to £2,500
Pete Williams, the RAC's road safety spokesman, told Express.co.uk: "We welcome the change in sentencing guidelines for gross speeders.
"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."
The new guidelines come after the Government introduced a zero-tolerance approach to the usage of phones by drivers last week.
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Hundreds of motorists have already been caught out by the mobile rules which have seen points and fines double to six points and a £200 fine.
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Those caught using their mobile twice or accruing 12 points will be hauled into court, face being disqualified and having to pay fines of up to £1,000.
New drivers can have their licences revoked instantly and lorry or bus drivers can be suspended if caught.
The new rules were brought in after a consultation found old guidelines were not harsh enough
Mobile phone usage fines have also been doubled
The new guidelines are part of a major crackdown on reckless drivers by the Government in a bid to make Britain's roads the safest in the world.
The Ministry of Justice has also recently finished consulting on increasing the maximum sentence for causing death by dangerous drive from 14 years to life imprisonment.
A statement from the Sentencing Council, which decided the changes, said the higher penalties were introduced following a consultation in which respondents said the previous guidelines "did not properly take into account the increase in potential harm that can result as speed above the speed limit increases".
It added: "The Council has therefore increased the penalty for the top band of seriousness to ensure that there is clear increase in fine level as the seriousness of offending increases.
"This means fines for these offenders will have a starting point of 150 per cent of weekly income rather than the existing level of 100 per cent of weekly income."