Some people may be shocked, appalled, outraged and disgusted by bent mikey but I'm afraid he is correct.
Cyclists have the lowest "at fault" rating of any road user. They have, after all, a natural disincentive toward collisions with anything because they flipping hurt.
Drivers, too, are subsidised by the rest of the population. That this fact is little known demonstrates the sway held by the motoring lobby who complain about the over-taxed motorist when in fact the average urban motor vehicle is subsidised to the tune of around £2000 a year.
There is nothing "spurious" about the ten children killed or seriously injured on our roads every day, nor the cost of policing, or the cost to the NHS, or the pollution costs, noise pollution, damage to the infrastructure, rises in asthma and lung disease, global warming, disposal of vehicles etc etc etc.
Proposals to licence or have compulsory insurance on bicycles are unworkable and would cost far more to administer than any potential benefit.