CITY VIEWS: HAS THE CAR SCRAPPAGE SCHEME PROVED TO BE AN EFFECTIVE INITIATIVE?
DANIEL NOYCE OCE
“ It’s a genius idea by the chancellor as it creates more revenue for the Treasury. They recoup more than £2,000 on car taxes etc, and all under the pretext of stimulating the economy. But it also raises questions over scrapping cars for the sake of it.”
PHIL HEALY WILLIS
“I think that it is a good initiative and it would tempt me if I had an old car. But I don’t think many people in the City do have cars over 10 years old. Those consumers who do would probably find that getting credit is harder, so there is a barrier there.”
ROBERT BOULTWOOD TALBOT UNDERWRITING
“I guess if it is stimulating purchases then it is a good thing. But there are so many discounts out there, I think that consumers can negotiate a good deal either way. Economically it makes sense, but it does seem a terrible waste of some good cars.”