Car scrappage incentive scheme begins
A scheme to give motorists 2,000 pounds to trade in their old banger for a new car comes into force today.
The 300 million pound initiative, announced in April's budget, aims to boost the ailing car industry and give a boost to manufacturers.
Customers will get the discount when they scrap a vehicle that is at least 10 years old, with 38 manufacturers taking part covering all the major brands.
"I am delighted by the response of the motor industry," said Business Secretary Peter Mandelson. http://www.independent.co.uk/news/business/ne...
What is the scrappage scheme?
In the 2009 budget review Alistair Darling confirmed a £2,000 Government Scrappage Scheme would be implemented. Vehicles over ten years old would receive £2,000 when traded in for a new vehicle. http://www.ukscrapscheme.co.uk/