The National Franchised Dealers Association (NFDA) has requested a meeting with Government to discuss an extension of the Motor Vehicle Scrappage Incentive Scheme.
'To say the scheme has been successful since its introduction would be a mass understatement' says Paul Williams, NFDA Chairman, 'but with the retail economic climate still fragile and an increase in VAT scheduled for 1 January 2010, an extension of the initiative is vital. Further, our research tells us that as these sales are purely incremental, the VAT earned on them has made it a self funded scheme. Indeed, if VAT were to increase Government could be in receipt of a surplus.'
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