A new scheme introduced today by the government aims to give a major boost to the beleaguered motor industry by encouraging cyclists to upgrade to four wheels.
The proposed initiative will see cyclists receiving a discount of at least £1,000 in return for swapping their bike for a new car, rising to a maximum of £2,000 if they opt for a 4x4. Half of the subsidy will be paid by the UK government, with the remainder being met by the car manufacturers.
This latest effort to prop up the ailing car industry comes on the back of sales figures pronouncing the recent £300m car scrappage scheme to be a success, with over 35,000 new vehicles being ordered since its launch just over a month ago.
Launching the scheme, Business Secretary, Lord Mandelson said it would be a further "shot in the arm” for the country’s motor trade and foreign-owned manufacturing industries.
A spokesman for the Society of Motor Manufacturers and Traders agreed, saying "anything that puts more cars on the road, and takes cyclists off it, whilst keeping our petrol and service stations as thriving hubs of the community has got to be a good thing”.
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