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British Taxpayer's Money For Foreign Companies

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Just as predicted.

Rather than bailing out the banks and foreign car manufacturers just think haw much business rates and taxes could have been dropped - which would have made the UK a better place for jobs to be based or for new businesses to take over form failed ones.

But no, this bunch of no-mark politicians, most of whom have run nothing more than a tap took the bailout route, the banks stuck the knife into the back of UK businesses and this debt-ridden hole will attract nothing back in new trade and income productive activity.

http://www.telegraph.co.uk/news/uknews/roa...re-foreign.html

Nine out of 10 cars bought under scrappage scheme are foreign

Nine out of 10 cars being bought under the Government's £300 million scrappage scheme were made overseas, according to figures compiled by The Sunday Telegraph.

By Ben Martin and Katy Barnato

Published: 9:30PM BST 06 Jun 2009

Nine out of 10 cars being bought under the Government's £300 million scrappage scheme were made overseas, according to figures compiled by The Sunday Telegraph.

A car being scrapped Photo: PA

Of the 51,000 vehicles ordered under the scheme since its launch last month, 46,000 were built abroad and only 4,800 in the UK. It means that so far, foreign manufacturers have benefited from £46 million in public subsidies, and UK manufacturers only £4.8 million.

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Of the 51,000 vehicles ordered under the scheme since its launch last month, 46,000 were built abroad and only 4,800 in the UK. It means that so far, foreign manufacturers have benefited from £46 million in public subsidies, and UK manufacturers only £4.8 million.

Or, to put it another way, the government's scrappage scheme is roughly equivalent to a major Premier league club buying a top quality player from Barcelona, and a promising youngster from a Championship club.

It's not until you see the size of the sums involved that you realise how pitiful and irrelevant the scheme actually is. Yeah, it's cars, so you can say that's more jobs 'saved' than under the football analogy, but once you factor in the (sadly incalculable) number of purchases that would have been made anyway regardless of the subsidy, I think it's fair to say the impact of the scheme on Britain is almost too small to measure.

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Just as predicted.

Rather than bailing out the banks and foreign car manufacturers just think haw much business rates and taxes could have been dropped - which would have made the UK a better place for jobs to be based or for new businesses to take over form failed ones.

But no, this bunch of no-mark politicians, most of whom have run nothing more than a tap took the bailout route, the banks stuck the knife into the back of UK businesses and this debt-ridden hole will attract nothing back in new trade and income productive activity.

http://www.telegraph.co.uk/news/uknews/roa...re-foreign.html

Nine out of 10 cars bought under scrappage scheme are foreign

Nine out of 10 cars being bought under the Government's £300 million scrappage scheme were made overseas, according to figures compiled by The Sunday Telegraph.

By Ben Martin and Katy Barnato

Published: 9:30PM BST 06 Jun 2009

Nine out of 10 cars being bought under the Government's £300 million scrappage scheme were made overseas, according to figures compiled by The Sunday Telegraph.

A car being scrapped Photo: PA

Of the 51,000 vehicles ordered under the scheme since its launch last month, 46,000 were built abroad and only 4,800 in the UK. It means that so far, foreign manufacturers have benefited from £46 million in public subsidies, and UK manufacturers only £4.8 million.

Blindingly cleVer aren't they. And the benefit to the enviroment. A big fat ZERO. Half the oil consumed by a car over the lifespan of 100,000 miles is consumed in its production before it has turned a wheel.

More manual work is created maintaining older cars than is done in a factory producing the cars. The profitability of a car company is largely increased by the selling of spare parts. Not anymore.

Edited by Abstra

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Or, to put it another way, the government's scrappage scheme is roughly equivalent to a major Premier league club buying a top quality player from Barcelona, and a promising youngster from a Championship club.

Except that the purchase of the player would presumably strengthen the pre-eminence of the UK Premiership and is therefore an investment in future foreign earnings via TV rights, etc. By contrast, the purchase of a car is in most cases a liability.

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More manual work is created maintaining older cars than is done in a factory producing the cars. The profitability of a car company is largely increased by the selling of spare parts. Not anymore.

And de-facto that maintenance has to be done in the UK, so we have shifted expenditure that would have largely recycled in the UK economy to expenditure that is largely recycled outside of the UK economy.

Bravo!

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And de-facto that maintenance has to be done in the UK, so we have shifted expenditure that would have largely recycled in the UK economy to expenditure that is largely recycled outside of the UK economy.

Bravo!

British jobs for British workers.

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No more cheapo cars for the less well off either. And, insurance will go up. My Mother has just written off an old car and they have had to give her £2000 for it.

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