Cyclescheme encourages the use of bikes for commuting

Everyone is looking for ways to get cars off the road to reduce emissions and dependency on oil. A British approach provides an intriguing solution that could work in some cases. Called Cyclescheme, it is a program that allows employees of participating companies to get a bike as a work benefit.

Under the program, a company gives an employee a voucher that can be used for the purchase of a bike. The company owns the bike, but the employee is free to use it both to commute to and from work and for recreational purposes. At the end of the lease period the employee is able to purchase the bike at a fair market value. That means that the employee gets to use the bike from the start, and when they do eventually purchase it they pay a low price and save on the taxes paid. For the particularly lazy, electrical assisted bikes are eligible under the scheme as well.