Lycra-clad PM launches Pollie Pedal

Tony Abbott has donned the lycra to launch his annual Pollie Pedal ride, hoping to raise hundreds of thousands of dollars for charity.

"For me and my colleagues it's an opportunity to do something for a good cause," the prime minister told reporters outside Old Parliament House in Canberra.

Mr Abbott will take part in the 600km bike ride from Burnie to Launceston in Tasmania in March.