The introduction of a Bus Bonus scheme would generate £93.4 million for the UK economy.
This is according to Greener Journeys, which has produced a report to highlight the benefits of the incentive. It claims that the proposals would particularly help those on low incomes, with many of the country's poorest people not having access to a car.
Under the scheme, businesses would pay for their employees' commute to work by providing them with e-vouchers. They would be issued as a smartcard and be exempt from tax and national insurance.
Greener Journeys estimated that the proposals would cost the UK Treasury £80 million per year in lost tax revenues, but would bring in £173 million in benefits to the economy as a whole. It also claimed the scheme would reduce the number of car journeys between 2015 and 2016 by 15.2 million.
The report was produced in conjunction with transport authorities, bus companies and special interest groups. It follows successful implementation of similar initiatives in countries such as the US, Canada and Ireland.