Governments Scrappage Scheme takes shape
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The Business Department today met with the car industry to
outline the arrangements of the scrappage scheme which will be launched
The £300 million scheme, announced in the Budget last week, is
designed to boost the automotive industry and restore consumer
confidence. The government is introducing a £2,000 incentive to
consumers for scrapping their cars and vans 10 or more years old in
return for buying a brand new vehicle.
The aim of today's seminar was to help the car industry, which
will be running the scheme, to finalise their preparations.
Business Secretary, Lord Mandelson said: "The scheme has been
designed to be as simple as possible so we have kept the number of
restrictions for consumers to a minimum. We also want to keep it
straightforward for the car industry which has to administer the
scheme, and there will be checks in place to ensure the scheme is not
"I welcome the level of interest from car manufacturers that
have already said they are keen to sign up to the voluntary scheme and
look forward to seeing them benefit from more new buyers very soon."
1. The £2,000 incentive is £1,000 of government funding
matched by £1,000 from industry.
2. Light commercial vehicles up to 3.5 tonnes are included in
3. Information about the scheme can be found at http://www.direct.gov.uk.
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Article Published/Sorted/Amended on Scopulus 2009-05-12 13:30:35 in Business Articles