Friday, September 11, 2009
Mandelson rules out scrappage scheme extension
Business Secretary Lord Mandelson has ruled out extending the vehicle scrappage scheme in a move likely to anger motor industry leaders who say that the programme is crucial to Britain's broader economic recovery.
Lord Mandelson said he had 'no plans for extending or renewing' the scheme, under which drivers of cars and vans 10 years or older receive a £2,000 subsidy if they buy a new vehicle.
With the programme's £300 million budget already running low, Britain's carmakers and retailers have called for its extension.
Almost 200,000 vehicles have been ordered under the scheme since its launch in the spring.
DATED: 11.09.09
FEED: AW
