CITY VIEWS: WILL THE SCRAPPAGE SCHEME BOOST CAR SALES?
PETER HUGHES STANDARD BANK
“When we went into the crisis, many people stopped spending but now that it’s clear the world isn’t going to end, they are loosening their purse strings and many will be looking to buy a car. This might well give the car industry a much-needed boost.”
KATIE CAYZER SUMITOMO CORP
“It would persuade me to buy a new car if I were in that situation, but I have heard there are catches to the scheme. It will be beneficial to the car industry after it has been going through such a hard time, though – something is better than nothing.”
NICK MIDGLEY JEFFERIES
“If I were thinking of buying a new car, the money would encourage me, but it will cost the government a lot of money at a time when the budget is already stretched. On balance, I think the scrappage scheme is probably a bad idea financially.”