It is, it's putting in place active travel experts.
The problem with the UK is we keep tinkering around the edges, working off an inherently car-based narrative (to the extent that many councils/traffic planners etc know nothing about cycling in spite of guidance like LTN 1/20).
They're terrified of taking away any space from cars, terrified of upsetting the status quo, unsure of how to combat the "what about..." brigade that pop up every time a single cycle lane is painted on a bit of pavement...
And it urgently needs qualified, appointed professionals to counter that. Not just some stereotypical cycle lobby bloke on TV in his bright yellow jacket and helmet, not some former pro bike racer*... People can't relate to those.
An actual network of qualified professionals in active travel planning and implementation.
Otherwise we'll continue to end up with halfarsed hare-brained schemes that squander public money and produce poor quality "cycle lanes" that no-one then uses because they're inconvenient, dangerous, indirect etc.
And £32m to Government is a drop in the ocean. Buys you about 3 sq ft of motorway.
* The exception being Chris Boardman who is excellent but there's only one of him!