“Poll after poll has shown that the biggest reason for people not wanting to cycle is perceived danger. And anyone who has dared to ride a bike on unprotected roads will soon discover that a large part of this danger comes from pure illegality, not least the vast proportion of drivers who speed, especially on residential roads.
This neatly leads us to the other factor highlighted by the report, and its reaction to it: the howls of outrage if people politely suggest that people could perhaps be less of a danger to others when they drive.
Before the report’s launch, the only one of 10 recommendations highlighted in the media was the idea of removing the so-called tolerances in speeding offences, whereby you can currently go about 10% plus 2mph above a limit and not be penalised.”
The link to the parliamentary group report (.pdf file) is here.
They have been given out tickets to speeding cyclists for a while now, at least according to a friend who cycles a lot, so I think it applies equally but is just exceptionally harder to enforce. You need multiple police officers physically stopping and giving tickets.