In today's budget speech the government has announced a new scheme to help boost new car sales and to stop the UK car Industry from sliding into further misery.
The UK scheme will run until March 2010, which personally i think should of gone on a lot longer, will apply to cars over ten years old.Under the new scheme anyone that owns a car which is ten years of age or older and can prove they have been the registered keeper for more than a year can claim up to £2000 towards the cost of a new vehicle once their old car has been scrapped.
The incentive which is currently being implemented in France, Germany and Italy has already helped reduce the impact of the economic downturn in the motor industry in these countries. More than 800,000 jobs are dependent on the UK motor industry, which currently is in a state of emergency.
I think that the scheme is a really good idea and hope that they increase the length of it and maybe reduce the age limit on the cars as most of the population do not own a car which is ten years old or older, and those that do, do so because they can't afford a new car so £2000 off the price of a new car does not help when you don't have any money in the first place.
The Car Scrappage Scheme is extremely successful in Germany, but only helped sell cars for small and budget car makers. BMW and Mercedes do not benefit from this government free cash offer.
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