Cycle to Work Scheme - bad news?

[Dynamic Position]

Radio 4 Money Box at 12:00p.m Today is going to present bad news to those who have purchased bicycles on the cycle to work scheme .
Has George Osborne thought up a plan to claw money back from cyclists?

 

[jerrysimon]

Its probably that the Treasury has clarified payments required at the end of the lease period, old news.

Basically members of the scheme were paying anything from 3-10% of the original purchase price after the 12-18 month hire period to purchase the cycles.

Treasury has now set this to about 25% after 1 year down to 1% after 5 years approx, if I recall what I read elsewhere.

Its all pulblished on the web on one of the gov web sites.

Regards

Jerry

 

[CeeGee]

Probably the old news that the amount you have to pay at the end of the agreement will rise considerably meaning that you will save virtually nothing.

Colin

Edit: I agree with him above

 

[jerrysimon]

lol CeeGee we were typing at the same time.

Jerry

 

[JuicyBike]

No Xmas card from me this year George...
IMO it's easy to know the price of everything, but what about the value?

 

[HarryB]

I reported this some time ago. At work we are beginning to get the valuations in after a year and they seem to be around 25%. Last time I took part in the scheme I paid a £50 (£57 including the VAT) valuation on the £1000 voucher. You can extend the hire period by an extra 31 month and pay the 5% but in the end I think the scheme is dead in the water - too much hassle. I have heard a rumour that they are going to kill the whole scheme next year anyway. Vote blue get green was that?