Submitted on Tuesday 16th October 2018
Published on Tuesday 23rd October 2018
Current status: Closed
Closed: Tuesday 23rd April 2019
Signatures: 410
Increase the cycle to work scheme limit from £1000 to £2000.
Introduced in 1999, the scheme allows workers to buy a bike and accessories through their workplace. If the scheme’s limit had tracked inflation it would now be over £1,600. In addition, e-bikes are now becoming popular, provide access to cycling to more people, but are even more expensive.
Some organisations have obtained permission from the FCA to provide loans to a higher limit, but many do not do this (e.g. due to the complexity of obtaining permission and costs).
This is a timely petition as officials from DfT, HMT and HMRC are reviewing the scheme’s guidance (including the limit) as part of the Government’s Cycling and Walking Investment Strategy.
Source of inflation data: https://www.bankofengland.co.uk/monetary-policy/inflation/inflation-calculator
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