According to a report in the Times, the higher penalty system only applies to drivers caught speeding at more than 45mph in a 30mph zone, over 70mph in a 50mph zone and over 94mph in a 70 mph area. In addition to the fine speeders would be charged with six penalty points and if they accumulate 12 points in a three year period they receive an automatic six month suspension.
Such a proposal could potentially affect millions of drivers. A survey in March found that 4.5 million drivers currently had points on their licence for speeding and 21% of these were just one conviction away from a ban.
A spokesman for the Department of Transport said the options had not yet been set and the consultation process would begin before the end of the year.