My take on speed limits in built up areas is this.
The lower the limit, the more the likely it is you will find pedestrians.
Pedestrians are the more vulnerable in the event of the two meeting in an accident so the lower any impact speed is, the less likelyhood of a fatality.
I just don't get this fixation with the limits being wrong. The limits are just that, a limit, and for good reason. They are not a target speed either.
The limits are set, and we should obey them.
Would it suddenly become acceptable to lower the maximum sentence for Rape because the girl wore a short skirt? Of course not. So if we don't question that particular law, why question the ones that apply to speed limits, just because as a rule, we enjoy speed.
Keep speed where it belongs, on the circuit, where we all consent to it and its consequences.
Innocent pedestrians and careful law abiding drivers do not consent to being exposed to excess speed and its sometimes tragic consequences.
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