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@BRM
It seems that nearly all of the cyclists are at work on time, where as the rest of the Tubers (?!?) are always the late comers. We are a pretty laid back office, I must say, and no-one really gives a crap if you're late but I think the ol' "problems on the tube" has become an excuse to stay in bed for half an hour more.
That is the line I will be taking (as well as the "environmental, cost saving (they don't pay the matched NI that you don't either) and image (loadsa cyclists, green office, happy workforce, incentive etc etc")
One thing is though - Don't all of the people that want to cycle have bikes? I think work needs to be done on the people that might take it up, if they get a cheap bike.
And I'm not that sure that I'm the man for the job, as I use the fact that it takes me less time than everyone else to get in (45mins) to get my extra half hours sleep.