Car scrappage scheme brought in by chancellor

The chancellor has confirmed that a vehicle scrappage scheme is to be introduced in Britain, which may interest car insurance customers looking to trade in older models.

During yesterday’s Budget announcement, Alistair Darling stated that people can receive £2,000 towards a new car in exchange for bringing in vehicles that are ten years old or more.

“I want to help the UK’s automotive industry, which has been one of the British success stories of the last decade,” he told the House of Commons.

It is hoped that the move can boost activity within the automotive sector and encourage car insurance holders to purchase newer, greener models.

Commenting on the announcement, director of AA Loans Mark Higgins said he was “delighted” that the chancellor has recognised the benefits of such a scheme.

He added that the initiative could help thousands of motorists to own a brand new car for the first time.

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