Spain's new-car subsidies to expire in mid-2010: government
Monday 28 December 2009
The Spanish government's subsidies on new cars -- credited with reversing a slump in sales -- will expire in mid-2010 and will not be renewed, the industry minister said Monday.
The Spanish government's subsidies on new cars - credited with reversing a slump in sales - will expire in mid-2010 and will not be renewed, the industry minister said Monday.
If sales continue at their current level the amount allocated will expire in June and "there is no plan to continue," Miguel Sebastian told a news conference.
"Plans to help purchases only work if they are provisional, because otherwise it's not a stimulus."
Under the so-called Plan 2000E introduced in June, car buyers in Spain get a 500-euro subsidy from the central government, another 500 euros from their regional government and 1,000 euros from the auto maker when buying a new car.
The measure - similar to others in several European countries - had an initial budget of 100 million euros (144 million dollars).
New car sales jumped 37 percent in November over the same time last year, industry data showed this month, the third straight monthly increase, on the back of the government subsidies.
New car sales plunged 28 percent in 2008, the biggest-ever annual decline as the country slid into its first recession in 15 years due to the impact of the international financial crisis on an already weakened building sector.
Life & Style blogs
The Evil Within preview: a survival horror fan’s best worst nightmare
36-year-old skeleton of dead baby found inside Indian woman
Porn film production likely to stop in Los Angeles after actor tests positive for HIV
The 3D-printed key that can unlock anything
Anal sex study reveals climate of 'coercion'
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
What do immigrants really think of Britain? Polish immigrant's Reddit post goes viral
Scottish independence TV debate: Pumped-up Alex Salmond bounces back in bruising second round against Alistair Darling
Do you realise just how foolish the UK looks?
With Douglas Carswell joining Ukip, my party has taken another giant step forward
- 1 Keira Knightley topless: Conservative actress does own take on #Freethenipple campaign for Interview Magazine
- 2 Argentina may change its capital city from Buenos Aires, says president
- 3 Joan Rivers: 'Palestinians deserve to be dead'
- 4 The 3D-printed key that can unlock anything
- 5 Lady al-Qa’ida: On the trail of Dr Aafia Siddiqui, the world’s most wanted prisoner
- < Previous
- Next >
£30000 - £33000 per annum + Benefits + Bonus: Harrington Starr: Junior SQL DBA...
£35000 - £45000 per annum + Benefits + Bonus: Harrington Starr: C# Web Develop...
£60000 - £70000 per annum + Benefits + Bonus: Harrington Starr: Senior Data Sc...
Highly Attractive Salary: Austen Lloyd: BRISTOL - This is a very unusual law c...