Londonist is a massive fan of two-wheeled transportation, especially when it comes with a gift voucher attached. Yes, the lucky residents of Islington can now give up the motor, get on the manual and be £100 richer. Or even £300 richer, for those who would otherwise fork out £200 annually on a parking permit.

We were practically packing the bags and moving to the Borough upon reading this, but alas, the following recent government statistics quickly tempered our enthusiasm – on average 52 bikes are stolen in London everyday, with Islington hit hardest. Statistically speaking, we’re not entirely sure how bad that number is, but we’re pretty positive it ain’t good. Bye bye brand new bicycle.

Islington council is aware of this potential problem. Alongside money, they endeavour to provide 1,000 more secure bicycle parking spaces by 2010. Whether this will turn the tide on bike theft is questionable, but Londonist still applauds efforts to make the city both cleaner and greener.

Image courtesy of Jeremy Brookes' flickr photostream.