So thats it. "Were all doomed, doomed I tell ye" as Private Frazer would say in Dads army. The media has decided that the four horses of the apocalypse - Bad Credit - Lack of confidence - Globalisation and Greed are knocking at the door and weve had it.
Well maybe thats not the case.
The realignment will happen, people will start to pay the credit cards back and slowly but surely things will start to improve. Job prospects will get better and the world will not end.
Right OK rant over. Welcome to my new blog, its all about commercial vehicles (read on its not as bad as it sounds). Every week I will update the blog with funny articles and stories from the commercial vehicle world (yes there are some).
Todays news
Mandelson offers £2.3Bn rescue package to the UK motor industry.
(and Manchester City said they would give at least £4.6Bn.)
Van and car makers are set to receive a boost from today as Peter Mandelson outlined government support for the UK motor industry.
The goverment plan has two aims: keep the ailing industry alive, and direct manufactures to produce greener vehicles.
The measures will unlock loans of up to £1.3Bn from the European Investment Bank, as well as a further £1bn in UK government loans to fund investment in greener technology.
The Department of Innovation, Universities and Skills has also stated today it intends to increase its funding from £65m to £100m to help train car workers.
The package needs approval from the European Commision before it can take effect, but this shouldnt be a problem for the former European commisioner Lord Mandelson.
In the Commons the Shadow Business Secretary Ken Clarke said the proposals were "pretty small beer" coming from a man who is only used to being served pints of real beer.
The question is will it work and the answer is it may do some good. The main problem for the UK car and van market is still over supply. There are too many vehicles being produced with not enough people to buy them. Added to this the reduced amount of credit available to consumers is not helping.
It is probably the best time ever to buy a vehicle though as the manufactures seek to rapidly reduce unsold stock.
Germany recently introduced an incentive scheme to buy a newer motor.
Any German who scraps a vehicle over 9 years old and replaces it with a new or nearly new vehicle receives 2,500 Euros towards the cost.
As a result, car dealerships have reported a surge in interest and are forcasting 200,000 extra sales.
Not a bad idea when you think about it.
Happy Vanning,
Van Blogger
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