The Department for Transport (DfT) has confirmed that a consultation looking to create a sliding scale for offences will begin before Christmas.
In a 2004 discussion paper the Department suggested upping the punishment for those driving excessively over the limit.
The paper proposed a six point, £100 fine for drivers travelling at 45mph in a 30mph zone, 57mph in a 40mph zone and so on.
The Department hopes to confirm these new measures during the consultation process, as well as discussing lower fines for less serious infringements.
A spokesman said: “We do want to hit serious offenders here and we’re trying to make things a bit clearer for drivers.
“The idea is to try and make the punishment fit the crime. We haven’t ruled out giving two points for lower speeds. All this is still being decided.”
Paul Smith, founder of SafeSpeed.org.uk, criticised the proposals saying: “This is just one more dangerous mistake in a catalogue of dangerous mistakes.
“We all know that exceeding the speed limit isn't automatically dangerous,” he said.
However, Cathy Keeler, head of campaigns at road safety charity Brake welcomed the Government’s proposals and called for even greater punishments.
“Fines must act as a deterrent to protect vulnerable road users. A £100 fine still belittles the severity of a crime which can rob someone of their life in seconds,” she said.