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Cash Boost for Bike Loan Scheme

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LONDON, UK ( Mar 17) – An innovative scheme which loans out bicycles to businesses in south London has been given a GBP 23,000 cash boost. The Tate art gallery is the latest firm to sign up to the Southwark Council initiative, which offers pool bikes on a six-month free trial basis. Bikes for Businesses […]

LONDON, UK ( Mar 17) – An innovative scheme which loans out bicycles to businesses in south London has been given a GBP 23,000 cash boost.

The Tate art gallery is the latest firm to sign up to the Southwark Council initiative, which offers pool bikes on a six-month free trial basis.

Bikes for Businesses provides bikes, equipment and maintenance. After the trial companies can either buy, return or continue renting the bicycles.

Transport for London has pledged the money to extend the scheme which has already been taken up by 17 companies.

This scheme is being run to determine whether it results in a long-term change in the travel choices made by the businesses.

Another bicycle promoting scheme will be effective in the UK as from April 6th. Bicycles (and computers) that are loaned to staff by their employers, will be tax-exempt from that date, even if the bicycles are purchased by the employee after the loan period is over. This way, it will become more tempting to use a bicycle to commute.

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