Despite the fact that the official London cycle scheme is heavily subsidised through sponsorship, it still COSTS taxpayers (and I’m one of them) more than £11million a year. Interesting, when you consider Paris’s cycle scheme MAKES money. On the other hand, are comparisons fair? The Paris scheme has been running longer, and central Paris is much larger than central London, therefore it is conceivable that bikes will be rented for longer periods. With an £11million annual deficit, (each of Boris’s bikes costing £1,400 pa), it might well be cheaper to ferry tourists around my TAXI!
Meanwhile, Barclay’s Bank have pulled out of sponsoring the scheme. Spanish bank Santander beat off stiff competition from both PornHub and ISIS in a sponsorship deal worth £7 million a year. So the next time you see a ‘red’ Boris bike, you might be forgiven for thinking it is promoting Communist China!