No scrappage scheme under new Government
* Government intervention is over * Stable economy rather than subsidies * Scrappage was 'too expensive'...
Car-buying incentives such as the scrappage scheme are not the way to stimulate the car market, business secretary Vince Cable has told What Car?.
When asked about the scrappage scheme, Cable said: 'It got us out of an acute stage in the economic crisis, but it was too expensive to run.
'We are emerging from a period of Government intervention. We are now in a different world. The Government can't fight and win a subsidy war.'
Cable said: 'The best way to back the car industry is to create a good business environment. The Government will continue to back industry in a cost effective way.''