And breathe… Having been teased with the idea of a cap on the Cycle to Work Scheme that could have proved disastrous in some quarters, retailers and industry bodies have reacted largely positively to the scheme’s no-show in today’s budget.
However, it was also noted that while the chancellor, Rachel Reeves, did not take away from active travel, she did not give to it either – in fact it did not merit a mention.
As well as general cycle repairs, Butternut Bikes specialises in electric bikes and cargo bikes, and Hudson says that almost all the bikes he sells are priced above £2-3,000, with many going to commuters. “Most of our business would be Cycle to Work, I suppose,” he says.
“But for us in London, it works well. I think there’s a bit of confusion… a lot of retailers do not like the Cycle to Work Scheme providers, because they can charge up to 15%. So when I sell a bike on some of those schemes, I’m actively funding a competitor. They’re making more profit off it than I am, and they’re not doing anything for it.”
“Following speculation, we are happy to confirm no changes to the Cycle to Work Scheme have been announced in the Chancellor’s Budget this afternoon,” Edgell said in a statement
He added: “Separately, the Chancellor has recognised that one of the greatest pressures on household budgets is the cost of commuting. We will continue to work closely with Government to ensure the Scheme remains one of the most popular and successful workplace initiatives – helping save commuters costs by over £1,200 every year.
“If the government is serious about boosting the UK economy, we need greater investment in walking and cycling, putting more power in the hands of local leaders to unlock regional growth and giving us all more freedom to travel.
“For every £1 spent on cycling and walking schemes in the UK, nearly £6 [comes] back in benefits. From better public health to more people shopping on the high-street, investment in cycling and walking carries huge potential to revitalise communities across the country.
“There’s still time to unlock this potential, and we impress upon the government the benefits of a long-term, integrated approach to active travel that better connects and strengthens our communities.”
McMonagle also welcomed the government’s plan to boost spending on pothole repair, which would increase to £2 billion per year by 2029/30.
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