I can't help but wonder
whether the money might be better spent on providing some proper road safety training for cyclists. Many cyclists just seem to not know that when a lorry turns left, it's not safe to be next to it.
Just to be clear, I'm not saying that the cyclist is always to blame when there is an accident - there are plenty of bad and downright dangerous drivers out there.
However, I am holder of a class A (motorcycle) driving licence, and part of getting that licence (and the prerequisite CBT) involves being highly aware of the hazards on the road, including knowing when you're in someone's blind spot, the importance of shoulder-checks before changing road position, and assuming that every other road user is out to kill you at all times. Cyclists are even more vulnerable than motorcyclists - they are smaller, less well protected, and less able to get out of trouble quickly. Anything that applied to riding a 600cc bike should also apply to riding a 0cc one tenfold, but there is no prerequisite training, or test required to get on a bike in a busy city, and go and try to get yourself killed. At the very least, there should be some sort of crackdown on the very worst behaviours seen by cyclists (cycling the wrong way, jumping red lights, cycling on pavements, etc.) The same rules of the road apply to all road users, if you jump a red light in a car, you (quite rightly) get a fine and three points on your licence.