Announcing the plans in the Mail+, Mr Shapps said the law is needed to “impress on cyclists the real harm they can cause when speed is combined with lack of care”.
The move will close a legal loophole which means that cyclists who kill pedestrians can only be jailed for two years.
It comes four years after the Government ran a consultation on proposals for new offences of causing death or serious injury while cycling.
Just last month, a cyclist who crashed into a pedestrian who later died was jailed for one year under current legislation.
CCTV footage captured the moment the cyclist mowed down a pedestrian before fleeing the scene and offering no help to the 79-year-old victim.
Mr Shapps wrote in the Mail+ that a “selfish minority” of cyclists believe they are “immune” to red lights.
“We need the cycling equivalent of death by dangerous driving to close a gap in the law and impress on cyclists the real harm they can cause when speed is combined with lack of care,” he said.
“For example, traffic lights are there to regulate all traffic.
“But a selfish minority of cyclists appear to believe that they are somehow immune to red lights.
“We need to crack down on this disregard for road safety. Relatives of victims have waited too long for this straightforward measure.”
Under Mr Shapps’ proposal, the new law would be added to the Transport Bill due to be put before Parliament in the autumn.
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