Scrappage Scheme Extension in UK likely

Scrappage Scheme looks set to be extended today

The UK Scrappage Scheme looks set to be extended today, according to latest press reports. The £300 million originally attributed to the scheme has all but run out with the new 59 plate rush fuelling extra registrations of small, cheap to run cars.

Business Secretary Peter Mandelson is set to announce the welcome boost that industry bodies have been lobbying for in the last few months. The UK motor industry employs around 850,000 people according to the SMMT, and with car production lower now than for years, it is felt that more jobs will be at risk if the momentum generated by the scheme is lost.

New car registrations have increased in the last two months, but are still significantly below the levels of 2007, when 2.4 million new cars were registered in the UK.

Governments in the United States and Germany have given much higher levels of financial support than the UK, with 3 billion US Dollars and 5 billion Euros respectively set aside to promote the scheme. In Germany the scheme resulted in 2 million registrations.

The UK government is expected to take the total amount of money available to £500 million, an increase of £200 million.

there is no mention of publication date for this does it apply for extending the scrappage allowance past feb 28th 2010??

I am very interested in the scrappage sceme, and would like to know more about the extending? Is it being extended, has it been extended?, When and where? As when it first came out i would not of applied for it as i hadn't had my car for a year. Im now a mother in a tiny car, and there is no other way i could aford a new car.