297. Deputy Naoise Ó Muirí asked the Tánaiste and Minister for Finance if his Department have explored expanding the bike to work scheme to include third-level students. [67940/26]

As the Deputy may be aware, section 118(5G) of the Taxes Consolidation Act 1997 (TCA) provides for the Cycle to Work Scheme. This scheme offers an exemption from benefit-in-kind where an employer purchases a bicycle and/or associated safety equipment for one of their employees (or directors) to use, in whole or in part, to travel to work. Associated safety equipment may include items such as helmets, lights, bells, mirrors and locks.

Since 1 January 2023, the scheme applies to the first:

€3,000 of expenditure in relation to a cargo or e-cargo bike;

€1,500 of expenditure in relation to a pedelec or e-bike; or

€1,250 of expenditure in relation to any other type of bike.

Under section 118B TCA, it must be an employer and employee who may also enter into a Revenue-approved salary sacrifice arrangement under which the employee agrees to sacrifice part of his or her salary in exchange for a bicycle and/or related safety equipment.

It should be noted that third-level students are not excluded from the scheme, however, as an exemption from benefit-in-kind, the scheme only applies if their employer purchases the bicycle for their use, in whole or in part, to travel to work.

It will be of interest to the Deputy that the Programme for Government 2025, "Securing Ireland's Future", contains a commitment to, within the lifetime of this Government, offer a bike scheme specifically for third-level students, mirroring the Cycle to work scheme. In addition, the Programme for Government also commits to conducting a review of the Cycle to Work scheme to boost take-up among all workers.