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Tripling Bicycle Use Would Pump $6.5 Billion Into London’s Economy Each Year, Says Report

A report by an academic research firm estimates that tripling the use of bicycles in London by cash by 2030 will save lives, create jobs and bring in an annual economic dividend of $ 6.5 billion. This is in addition to cleaner air and less crowded streets.

Commissioned by the Bicycle Industry Association, the report by Wales Transport to quality of life States that cycling in the capital can be helped to grow from 2% today of all travel to 14% within eight years. Cycling in transport in the Hackney district of London is already at a modal share of 9%.

However, any growth depends in part on further support from the London Transport Authority (TfL) and London Mayor Sadiq Khan, the Bicycle Association said in a report.

While Khan has pledged to make London zero by 2030 – he has recently implemented a Extremely low emission zoneThe capital’s transport agency warned this week that if the national government does not close a $ 2.67 billion funding gap, it will need to make massive cuts to its bus and subway services. The investment in active travel plans – such as extended bike lanes and extended sidewalks – will also come to an end.

A report prepared for the forthcoming meeting of the TfL Finance Committee said that without additional funding from the Johnson administration, London transport is facing a period of “managed decline”.

However, increasing bicycle use remains cost-effective, the Bicycle Association reports. The economic benefits of a local investment in cycling.

“By 2030, not only will the net environmental benefit of net-zero be dramatic,” said Simon Iron of the Bicycle Association, “but so will the economic benefits.”

Cycling provides many health benefits and reduces carbon emissions, pollution and load.

Green jobs

Khan wants to see the creation of 317,000 “green” jobs in London over the next ten years. 25,000 of those jobs could be bicycle-related jobs – such as retail, logistics, manufacturing and tourism – states the new report citing earlier research by the Trade Union Congress (TUC).

Investing in bike lanes has been one of the best ways to create jobs through spending on infrastructure, more than any other infrastructure project other than energy efficiency in buildings, reported The TUC 2020 study. 33 jobs are being created for every $ 1.4 million invested in walking or cycling infrastructure over a two-year period, the TUC has determined.

The Bicycle Association’s 32-page report claims that increasing the bicycle share of cycling to 14% is “feasible” because net zero ambitions will require the transition from private car use to other means, including cycling.

A TfL analysis As of 2016 it has been proposed that 3.1 million daily car journeys and 1.6 million car journeys in London are interchangeable for cycling or walking. More than half of these journeys are less than 3 miles long, and often much faster to cycle than to drive in central London, where travel speeds have barely increased since the days of the horse and cart.

In response to what he called a “must-read” report, London’s CEO of the cycling campaign, Dr.

He added: “Investing in quality bicycle infrastructure will not only enable this change but will create a huge number of new, green career opportunities, especially for the most vulnerable Londoners.”

There has never been a better time to invest in cycling in London, the Bicycle Association claims.

“Providing better and safer cycling conditions helps encourage more people to cycle,” the London report said.

“As cycling levels rise, so does the demand for bicycles, accessories and ancillary services, which creates significant economic benefits for the London economy and new green jobs.”

The Bicycle Association estimates that London’s bicycle shops sold nearly 230,000 new bicycles worth $ 120 million last year. The industry body operates the Market Data Service, a non-profit sales data service run by an SMS marketing data company. Ten thousand of these new sales in London were electric bicycles.

Founder and Director of Transportation for Quality of Life Lynn Saloman is a Member of the Board of Directors of TfL. Since 23 September, she has also chaired the Welsh Government’s Road Review Committee. In 2006, Saloman wrote Sick car, A book with a subtitle Solutions to our car-addicted culture.

The report for the Bicycle Association was written by Lisa Hopkinson, Transportation for Quality of Life, author of a series of essays on carbon release for transportation for Earth friends.

The Bicycle Association said its focused report in London would soon be joined by economic impact studies for other areas in the UK.



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