The Cycle to Work scheme will remain in operation in the UK with no budget limit, despite rumours and reporting to the contrary.

It was reported earlier this month that the scheme would have a financial cap introduced in Wednesday's Budget, however there was no mention from the chancellor, Rachel Reeves, of it in her speech in the House of Commons. There was no further details in the Budget document, and the Treasury has confirmed to Cycling Weekly that there is no change planned.

In the UK, Cycle to Work allows people to save tax on new bikes by 'loaning' them from their employers, allowing prospective cyclists to save up to 42% on the cost of a full price bike, with payments automatically deducted from their salary. Best picks for you

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