The UK government says it has no plans to extend its scrappage scheme following America’s decision to allocate a further $2 billion for its own ‘cash for clunkers’ programme.
Just a month after President Obama signed in the $1 billion for the “cash for clunkers” bill, the US programme ran out of money. Last week the Senate approved another $2 billion worth of funding to extend it.
Gordon Brown, however, has no plans to follow suit even though it is expected that the £300 million set aside for the UK’s discount scheme is likely to run out in October this year.
A spokesperson for the Department of Business, Industry and Skills, said: ‘There are currently no plans to extend the scheme. It was designed as a time-limited scheme with a finite budget to boost the industry at a time when it needed it most.
‘We are pleased to see that the scheme is delivering on its objectives.’