Foreign minister hints that successful scheme will get more finance once money has run out
24 March 2009

Germany's scrappage scheme has been so successful that it is expected to be extended.

The €1.5 billion already committed to the scheme is predicted to run out in the middle of April.

As a result, foreign minister Frank-Walter Steinmeier has told VW workers in Wolfsburg that more money will be provided if the current economic situation continues.

He said: "If things remain difficult, we will not be able to let go of the only economic stimulus instrument for the car sector."

Steinmeier was responding to a report in German newspaper Rheinische Post that said ministers had agreed to add a further €1 billion to the scrappage scheme should the money run out within the month, as is expected.

New car sales in Germany have risen significantly since the scrappage scheme was introduced.

Mark Tisshaw

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