Friday 2 December 2016

Car scrappage scheme is lunacy

Published 31/05/2010 | 05:00

According to SIMI figures, the scrappage scheme cost the Exchequer €15m in lost revenue.

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Ireland does not manufacture cars, so the result is increased imports, which have a negative effect on balance of payments -- the last thing we need in a recession.

Very little work for a massive profit is involved in selling a new car.

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