£100m more for scrappage scheme
The scrappage scheme has been extended with the government putting in another £100m.
Business secretary Lord Mandelson, announcing the move, said: "The sector has been strongly affected by the recession, but the scrappage scheme has delivered a boost to manufacturers and the supply chain."
More than 225,000 orders have been placed through the scheme so far. The increased funding enables the scheme to fund a further 100,000 vehicles, bringing the total budget to £400m and covering up to 400,000 vehicles in total.
Van traders will be particularly pleased as vehicles over eight years old, rather than the current ten year old requirement are now eligible.
The scheme will come to an end in February 2010 or when the funding runs out, whichever is sooner.
