Alfred Cannan’s Budget includes an extra incentive to get cycling to work

From April 6 this year, employees provided with a bike and safety equipment up to the value of £1,000 by their employer for the purpose of cycling to and from work will be exempt from paying tax on it.

The move has been welcomed by Gavin Quayle, co-founder of popular cycle shop Bikestyle.

Mr Quayle told Business News the shop would be relocating from Buck’s Road to the former market hall later in the year.

He said: ’Something we have wanted to do for sometime, is to provide Douglas with a secure commuter bike park with locker and shower facilities and relocating to the market will now give us the additional space to include this.

’So as you can imagine, we were excited to to learn that the Government has announced an IoM Cycle to Work Scheme in this year’s Budget.

’We have been dealing with the UK Cycle to Work Scheme locally on behalf of Halfords for a few years now, so have first hand knowledge how the scheme can benefit the consumer. Apart from the obvious financial savings, the benefits of getting people out on their bikes go beyond the individual’s health and wellbeing. The knock on effects to health services, green issues, traffic congestion and parking have great potential. So it’s good to see the Government being proactive and introducing the scheme at a time these issues are very topical.’