Basically all data points to…

Basically all data points to bike lanes reducing traffic as they allow people to safely use forms of transportation that aren't driving. Not just biking, but scooters, skateboards, or other forms of micromobility as well.
Bike lanes also lead to decreased healthcare costs, that far outstrip the cost to implement the bike lanes. This is due to both better health outcomes of more active people, as well as the decrease in pollution.
Bike lanes also lead to good outcomes for businesses. Cyclists are better customers than drivers, stopping in businesses more often, usually leading to increased sales.
Finally, this legislation feels like the very thing the ministry of red tape reduction exists to eliminate. This is pointless meddling from the Province into municipal affairs