bangers for cash

European Business Week | 22.05.2009 | 16:30

Britain's car scrapping scheme gets off to a slow start

Großansicht des Bildes mit der Bildunterschrift: The scheme gives car owners £2,000 to trade in their old cars and buy greener, newer models

The launch of the so-called ’'bangers for cash’’ programme came amid confusion and delayed involvement from carmakers.

Following the trend set by Germany and France, Britain this week launched a car scrapping scheme.

The plan worth 300 million pounds (€330 million) is designed to encourage consumers to buy new cars, and give one segment of the economy a much needed boost.

Similar programmes have already proved very popular in other parts of Europe. However, car manufacturers in the UK began the week with concerns over how the scheme actually worked, and critics suggest it's unlikely to succeed.

Report: Olly Barratt