LONDON March 9: 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.
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.
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.