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Monday, 18 May 2009

Car scrappage scheme begins

by Chris Fletcher, Deputy Chief Exec

Today sees the official launch of the car scrappage scheme announced in April's budget by the Chancellor. Whilst the concept behind the scheme seems to be on the right lines many businesses are waiting to see what the impact will be of the scheme which has been heralded as the solution to many of the problems facing the automotive industry.

Schemes of this type have been hailed as a great success on the continent and it came as no surprise given the circumstances and challenges we face in the UK that something similar was formally announced by the Chancellor. There is no doubt that any help or assistance is more than welcome to kickstart the car market which has been in the doldrums however the jury is still out on how effective this scheme will actually prove to be in the long run.

Thousands of businesses rely on the automotive sector and speaking with our members their hopes are that this will not prove to be another gimmick like the VAT cut but something that will give this key sector a major shot in the arm.

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