Credit crunch drives take-up of cycle-to-work schemes

The economic downturn is thought to be driving a boom in cycle-to-work schemes as increasing numbers of staff are signing up to the benefits to save money on their commute.

The number of staff opting to take up bikes has risen threefold on the same period last year, according to several cycle scheme providers. Steve Edgell, managing director of Cycle Solutions, said: “Because of the difficult economic climate at the moment, people are going to be looking into various ways of saving money. One of the biggest drains on the weekly budget is the commute to work and with petrol prices seemingly on a never ending upward spiral it means that not only are motorists being hit in the pocket, but even those who travel by bus are affected as the cost of their journey also rises to cover the transport company’s rising fuel bills.”

Richard Grigsby, director of Cyclescheme, affed that the firm has seen a threefold increase in volume on the same period as last year. He said: “It’s difficult to attribute this to the credit crunch but we are now hearing stories about cycling more to save paying high fuel prices and switching from the car to the bike when it suits, weather-wise and distance-wise.”