Very very happy to see that pathetic moron got caught. Could have done with longer if you ask me, but at least its had a significant dent on his life thus far.Quote:
Originally Posted by Bolton Midnight
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Very very happy to see that pathetic moron got caught. Could have done with longer if you ask me, but at least its had a significant dent on his life thus far.Quote:
Originally Posted by Bolton Midnight
I told you before, don't bring facts into the argument...... :pQuote:
Originally Posted by Dylan H
Who? Can't see there being much on a crappy Fiat, Kia, etc that was made in the UK.Quote:
Originally Posted by Dylan H
And what made them so much more important than all the other industries that Mandy deemed not worth helping?
A reduction in Business Rates would have helped UK firms and all of them not just the chosen few who offered Mandy a big bung / job.
Agreed should have been a lot longer and Attempted Murder charge too.Quote:
Originally Posted by AndySpeed
Whilst I don't know how much of a well built Fiat 500 is built in the UK, the VAT component more than covers the contribution by the government.Quote:
Originally Posted by Bolton Midnight
I didn't realise FIAT and Kia were top sellers in the UK. I was under the impression that companies like Vauxhall with a substantial British supply base competed for top spot with companies like Ford that also derives a lot of its parts from the UK. I also thought that cars like Civics and CRVs, Micras and Avensis' sold well too, again with parts mainly manufactured in the UK.Quote:
Originally Posted by Bolton Midnight
As for helping other industries, you're right that more could and should have been done. However since the car scrappage scheme pretty much paid for itself it didn't cost the taxpayer anything unlike reducing business rates.
http://www.fiat.co.uk/Content/Article.aspx?id=20279 :)Quote:
Originally Posted by Dylan H
Utterly clueless
http://www.telegraph.co.uk/news/ukne...e-foreign.html
It benefited foreign car makers far more than the British workers, they just had to pay for it
http://www.thisismoney.co.uk/bargain..._page_id=53949
The real cost of ministerial largesse is suddenly clear. Peter Mandelson's £300 million scrappage scheme to subsidise new cars gobbled up a staggering 48,387 taxpayer years. Yes, an army of almost 50,000 working people was harnessed to fund a scheme that Lord Mandelson's own officials thought was poor value for money.
British workers didn't have to pay.Quote:
Originally Posted by Bolton Midnight
You seem not to know how the scheme was financed.
1k came directly from the car maker the car was bought from.
The other 1k came from the British government, but the state still charged VAT on each car of 15%. Therefore in order for the state and therefore the taxpayer to have made a loss the car would have had to have been sold for less than 6.67k. Its difficult to find cars that cheap so actually the state probably made a profit out of the whole scheme as the amount they got back in VAT probably exceeded what they had spent in the first place.
Simple maths really.
Your second posted article is utterly irrelevant to the topic at hand. Ford and some other car makers have indeed raised prices substantially but the scrappage scheme had nothing to do with it. Blame the exchange rates.
Prior to the scrappage scheme the car firms were offering bigger discounts than 2k on a lot of the models that were popular under the scheme so it ended up being no better for the buyer.
It did cost the tax payer, the extra admin alone would have outweighed the extra VAT.
And it did benefit foreign companies far more than British ones.
It was a silly idea and just yet another of Labour's many cock ups, keeping VAT at 15% for two years would have worked better.