UK government to extend car scrappage scheme
The BBC has learnt that the UK government will this week announce a further extension of the popular car scrappage scheme which compensates motorists for scrapping their old uneconomical vehicles in favour of new eco-friendly models. While the scheme looks likely to be extended from the end of February to the end of March the government is unlikely to inject any more money over and above the £400 million already put aside.
It is estimated that 330,000 new cars have been acquired under the programme leaving an additional 70,000 to take this figure up to the 400,000 limit. So in effect the UK government is only extending the scheme to allow the remaining capacity of 70,000 vehicles to be taken up. Whether we see a similar extension at the end of March remains to be seen but the compensation scheme is proving extremely popular with motorists in the UK.
We may see the introduction of short-term incentives for UK voters in the run-up to the election although ultimately it will be issues such as the economy, tax and budget deficit which will be more prominent in voter's minds. However, any additional votes which an extension of the car scrappage scheme may attract would be welcomed by the government!
Share this..
Related stories
Tesco expected to beat City forecasts
Tuesday will see results from Tesco which are expected to beat City forecasts and confirm that the group saw sales grow by 3% over the festive period. While beating analyst forecasts in the current economic climate is no small achievement, it is becoming more and more apparent that Tesco is falling behind the likes of Sainsbury, William Morrison and Asda, at least over the festive period. So are w...
Read MoreMPs expenses investigation in disarray
The investigation into MPs expenses is in disarray after more than 80 MPs fought payback demands from Sir Thomas Legg leaving 200 MPs to pay back under £1 million in total. The very fact that the investigation into MPs expenses will cost more than £1 million leaves this sorry saga on the verge of a farce. So what has gone wrong? A number of MPs have taken legal action to reduce their payments...
Read MoreStress pushes more UK citizens to drink
Figures released by the Office for National Statistics show that many in the UK have turned to drink during these very difficult economic times. The data shows that around one third of people regularly exceed their daily sensible drinking limit with one in five men and one in seven women over 65 drinking every day, compared to just 1% of those between 16 and 24 years of age. While men are still tw...
Read MoreIs the UK supermarket sector oversaturated?
The revelation that Asda, the number two supermarket chain in the UK, is looking to expand into smaller format stores and also looking at the potential of increasing its portfolio of non-food shops may well signal that the UK supermarket is oversaturated. The company confirmed that sales growth in the fourth quarter of 2009 was down from 5.6% in the previous quarter to 4.6%, which is the slowest g...
Read MoreCutting back on your household bills
While the cost of living in the UK peaked in the middle of 2008 it is still substantially higher than 12 or 24 months ago. There is still a need to cut back on your domestic bills as much as possible including electric and heating. By simply switching off your electrical appliances at the plug when not in use you can make significant savings in any one calendar year. Heating is also a situation wh...
Read More