The Credit Crunch Is Good For The Environment
Spiralling petrol prices in the uk and economic slowdown caused by the credit crunch is having some unexpected beneficial side effects on the uks roads. People are getting from A to B quicker with less stressful journeys as a result of an estimated 12 % less traffic on the roads that sees a typical hour journey reduced by almost 5 minuts. With petrol prices currently standing at £1. 20 per litre together with inflation double government targets and ever rising unemployment rates its not hard to see why people are finding alternate forms of transport more desirable. It is estimated that half a million bike journeys are undertaken in London alone every day. Those that remain in their cars are helping the environment and their finances too by reducing speed and burning less fuel as a result. Good news for the environment bad news for bankers.
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London, United Kingdom