Swedish multi-millionaire slapped with £80,000 speeding fine

Updated: 

 Swedish multi-millionaire slapped with £80,000 speeding fine

If you thought penalties for speeding bordered on the harsh in this country, spare a thought for zooming motorists in Finland who are penalised based on their personal wealth.

Swedish businessman Anders Wiklof was caught by traffic police racing along at 77kph in a 50kph zone while driving in Finland. The authorities subsequently handed out a ticket following the incident on the island of Aland.

Wiklof, who is a well-known multi-millionaire businessman and philanthropist in Sweden held his hands up to the unfortunate incident but said the £80,000 fine handed to him was "unreasonable."

According to the newswires, Wiklof said: "I'd rather put that money on the elderly, health, day care or whatever. I have only myself to blame, but one can question whether it is fair.

"Should I drive too fast in Sweden, I would have received 4000 crowns (£385) in fines and there is a huge difference.

"There should be a ceiling, it would be more fair.

"Where to put it I do not know, but as it is now, it is unreasonable."

Wiklof is one of the most influential people in Aland, a Swedish-speaking region of Finland and has made his fortune through the insurance and holdings industry. He has also donated generously to various charities throughout his career.

The £80,000 fine may seem steep but it is certainly not the largest to be handed out. In 2010, Swiss courts fined a wealthy motorist, described as a repeat offender, £180,000 for driving his Ferrari through a village at 85mph.

Should we impose fines like this in the UK? Do you think it would deter repeat offenders? Have your say in the comments section below.