The provincial government…

The provincial government should not be overstepping into municipal territory, and this is a massive waste of public resources, particularly in scenarios where labour has already been spent in implementing the new bike lanes.
They provide a safer alternative to personal travel and commuting, and studies have shown that cycling infrastructure can lower congestion in the long run, if there are more connections. See reference source.
If a lane needs to be saved, parking should be removed from major streets in order to create the space. We have too much street parking available that is taking up much more space than a cyclist who keeps moving. Particularly on major driving and transit corridors: King Street, Dundas, College, Bloor.