SMMT positive reaction to scrappage extension

Commenting on the Department for Business Innovation and Skills’ announcement of an extension to the vehicle scrappage scheme, SMMT chief executive Paul Everitt said,

“Lord Mandelson’s announcement of an extension to the car scrappage scheme is an extremely important decision that will inspire consumer and business confidence. It will help to stimulate demand, giving more consumers access to it, and create a bridge to a period when economic growth is strengthened and more sustainable.

“The additional 100,000 vehicles should help to counter the likely negative impacts of a return to the higher rate of VAT and the introduction of first year VED rates.”