With the budget being the talk of the moment, one of the things that is being suggested to boost the UK motor industry is to follow the example of other European countries and offer consumers the opportunity to trade in old cars for a cash payment, when replacing the vehicle with a new one.
Before Alistair Darling goes down the same route and bearing in mind the awful debt that the country is already saddled with from the governments other initiatives to overcome the financial crisis, it is worth pointing out that car scrapping scheme in Germany has been a phenomenal success.
It has in fact been a victim of it’s own success, boosting car sales by a massive 21.5% in Germany but at a cost to the government of an estimated 1.5billion euros – three times the original estimate!
Let’s make sure that if we are to follow suit, that we first get our sums right.
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