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@HatBeard
I can see the cost to implement any such scheme would probably discount it immediately but could they not reduce the speed limit in bus lanes only to 20mph even where the road limit is higher? just a blanket limit, if you're in a marked bus lane the max speed is 20 on penalty of being condescended to by a copper.
taxi's and bikes could then use them to their hearts content so long as they stick to 20mph.
the cycle commuters most likely to take primary are the ones cruising between 16 and 2x mph so the cabs are less likely to try and buzz them to pass if they're already sitting at 20mph or a shade under.
I haven't given this a great deal of thought so I probably missed some glaring hole in the idea or it's been mentioned in the thread before and I've forgetten since I read it first.