Quantcast
Is your car your pride and joy, or are you ready for a change? Let us know and you could win a £300 John Lewis voucher | No thanks

CAR SCRAPPAGE DISCUSSED AT THE TREASURY

Tue, 24 Feb 2009
Car scrappage plans were one of the main issues discussed at the Treasury today (24 February 2009) at a meeting with the Exchequer Secretary, Angela Eagle MP, and the Retail Motor Industry Federation.

Paul Williams, the RMIF Chairman, and Sue Robinson, RMIF Director, discussed the RMIF proposals put forward last week to Government to stimulate demand for new and nearly new cars and light vans by introducing a vehicle scrappage policy.

In Germany owners who scrap cars more than 9 years old receive a grant of 2,500 (2,500 Euros) towards a new car.

Commenting on the meeting RMIF Chairman Paul Williams said ‘the introduction of a scrappage scheme for nine-year-old vehicles could create a demand for up to 250,000 new vehicles whilst at the same time remove an equal number of old and more heavily polluting vehicles from our roads for ever’.

During the meeting Exchequer Secretary, Angela Eagle, gave firm assurance to the RMIF that the Government, in particular the Treasury and BERR were examining proposals for a scrappage scheme very carefully indeed.

Paul Williams added: ‘I was extremely encouraged by the response received at today’s meeting with the Exchequer Secretary’.

Comments

Add a comment

 

Ask Honest John

Value my car

Amount to borrow
Sorry. The minimum loan amount is £1000
To pay back over

My credit score

Best available rate 9.20%

Total repayment £9,304.93

Total cost of credit £1,804.93

£155.08

60 monthly payments

Apply now

Representative example

The Representative APR is 13.2% (fixed) so if you borrow £7,500 over 4 years at a rate of 13.2% p.a (fixed) you will repay £199.21 per month and repay £9562.20 in total.