The Cycle to Work Scheme has “helped to prop up the bike market” in the UK, the chair of the Cycle to Work Alliance has said.
His comments came as research published by the Alliance showed that the tax-break system brought £219 million in bike and accessory sales last year. The analysis also showed that it brings the British economy £573 million in annual economic benefits across retail, productivity, health, and household savings.
“With the savings that people make, and also the affordability that’s created by the scheme, by spreading that cost out, instead of having to go into a local bike shop front up the cash for a £1200 bike.
“The C2W scheme is showing increased sales. People are using it, not only to get their next bike, but their first bike. We’re increasing the pool of new cyclists, and that’s only going to be good for the industry as a whole.”
Edgell stressed that the Cycle to Work Scheme was benefiting more than just the bike industry and those who want to cycle. The UK government makes £4.40 on every pound put into the scheme, according to the research.
“Last year alone, we actually saw £219 million worth of bikes being supplied through the scheme, which is roughly one in four of every adult bike sold in the UK.
“This new research shows just how powerful active travel can be, and that’s why this Government is investing £616m over the next four years, to help make walking and cycling a safer and easier way to get around, wherever you live and help grow the economy, so we can deliver our Plan for Change,” she added.
