Transport for London figures suggest that there has been a 91 per cent increase in city cycling since TfL's creation in 2000.
In the past 12 months to March, cycling on major roads has grown by approximately 4.5 per cent, with an estimated 20,500 extra cycle journeys taking place every day. It's worth bearing in mind that last summer was the wettest on record since 1912 when taking in the magnitude of these figures.
Boris Johnson, Mayor of London said: 'I'm delighted that a growing number of people - like me - are choosing to cycle around London, and great strides have been made.
'But the overall number is still too low, which suggest that many Londoners need further encouragement to take it up.
'£2m is to be invested in new secure parking facilities, and alongside the forthcoming bicycle hire scheme and other ambitious initiatives in the near future I'm hoping to inspire a whole new generation of cyclists.'
This year the Mayor and TfL plan to invest £55 million into city cycling – up from £36 million last year and ten times the amount invested when TfL set up. This money is being spent on improved cycle parking facilities, education, events and cycle promotion.
Peter Hendy, Commissioner of Transport for London said:
'A 91 per cent growth in cycling levels in just eight years is a great achievement, but we are working to build on this steady growth and improve conditions for cyclists still further.
'The Mayor has made cycling a top transport priority, and this year we are investing a further £55m in cycling.
'As we continue to invest in new cycle lanes, improved parking facilities and bike training for people of all ages, I am confident that we will see the number of people cycling in the Capital continue to rise.'