It will never happen.
This proposal was produced by a Select Committee. Select Committees produce reports which the Government respond formally to. In no way is the Government expected to agree with all the recommendations and very often they don't.
I see no mileage in this one, especially as one of the prime movers in this one leads the "Slower Speeds Initiative"
Gives the tabloids, bike press and us something to talk about though, doesn't it?