Scrappage scheme passes half-way point
Tuesday, August 11th, 2009
More than half the money earmarked for the government’s “cash for bangers” scrappage scheme has been used up, according to figures from the Department of Business.
So far, 154,927 cars have been bought under the programme, which aims to breathe new life into the UK’s ailing car industry. The government has promised to underwrite 300,000 deals altogether in which motorists receive a £2,000 discount off a new car when they trade in a car over 10 years old.
Half of the cash is provided by the treasury, with the car industry putting up the rest.
The scheme has been most popular in the South East of England, which accounted for 18% of deals under the programme. 12% of purchases were made in the East of England, with 11% in the North West and South West.

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