Workers riding high with new cycle scheme

A new Cycle To Work scheme introduced in the Budget comes into effect today.

Employers can buy a bicycle and accessories up to a maximum cost of €1,000 for employees in the initiative, which is exempt from benefit-in-kind tax.

The Green Party, whose Cabinet ministers lobbied for the initiative, said participants will save money, improve their health, help the environment and reduce congestion.

“Cycling is the fastest way to get around and is also the least polluting way of travelling after walking,” said Green Senator Deirdre de Burca.

“Ten bikes can be parked in the space of one car and 2kg of carbon is saved for every short journey that is made using a bike instead of a car.”

The Greens said regular cyclists tend to be fitter and healthier – which contributes towards greater productivity and lower rates of absenteeism in the workplace.

“Cyclists may also be more punctual employees because bikes are able to squeeze past tailbacks and roadworks,” added Ms de Burca.

The Greens have set up the www.bikescheme.ie website for information on the initiative.