The government has announced that the Scrappage scheme is being extended with another £100m allocated for it. This government is so used to stealth taxes it appears to be introducing stealth subsidies. But this money could be used much more effectively to support green jobs and British jobs. The more I think through the scrappage scheme, the more I veer to the view that it is not a good thing.
If you have cashed in your old banger, and I know people who have, it is surely a good idea. But my friend used this to buy a Hyundai recently and traded in a car that was mechanically sound. As someone who is interested in encouraging more environmental motoring and reducing debt levels, it breaks my heart to see perfectly good cars being scrapped and UK government subsidy propping up overseas manufacturing.
How much better would it be to use the money to spend it on making our public buildings energy efficient, creating local jobs in environmental areas as well as saving the taxpayer money by reducing the amount of money thousands of public buildings waste year after year. Just a thought.