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@rhb
Try telling that to the HGV co's whose day shift drivers would be on a 30h week, or awkward split shifts. Whose trucks would be a redundant resource for 2 x 3hr blocks each day, whose drivers might not want to work permanent night shifts.
To firms whose projects are delayed / operating processes affected, and whose staff might not want to work nights (have to be on site to meet the trucks).
To the government bean counter who measures economic growth and is obsessed with movement of resources as a source of said growth.
To the residents at the edge of the exclusion area who end up hosting parking lots of trucks clock watching at 9.55am and 6.55pm respectively.
Please don't think I'm against a change of sorts in all UK cities - as you point out it'd be cheaper than building parallel infrastructure to cater for all bike journeys. It seems you haven't considered your solution from other viewpoints though.