Alastair Darling has announced in the 2009 Budget the long awaited car scrappage scheme. The fine print shows that the motor manufacturers have to stump up half the £2000 discount.
In reality this is good spin for all concerned. The Government gets to look good by helping out the car industry and yet only has to contribute £1,000. The motor industry can absorb the £1,000 by repackaging the discounts that are already available and the motorist should be able to get rock bottom prices for new cars.
The scheme is only open to the first 300,000 people and will expire in March 2010.
Cars will need to be 10 years old
The car will need to have been registered in the name of the person who gets the voucher for at least a year.
The car must have a current MoT