Government to offer loans to buy cars

ToMoCo

http://www.telegraph.co.uk/motoring/news/4341338/Peter-Mandelson-to-unveil-loans-for-car-industry.html

Manufacturers to borrow direct from BoE to offer loans on new cars.

Generali

The funny thing is, Labour voters (and there are still many of them) will claim that this Government isn't Socialist or at least isn't Socialist enough.

I doubt your kids will agree when they get the bill for all this.

Graham_Devon

ToMoCo wrote: »

http://www.telegraph.co.uk/motoring/news/4341338/Peter-Mandelson-to-unveil-loans-for-car-industry.html

Manufacturers to borrow direct from BoE to offer loans on new cars.

Thats nice.

One minute it's showroom tax to stop us buying. Next minute loans direct from the BOE. I'm sure just a few months ago when raising taxes gordon stated "the environment is the single biggest factor at the moment".

Environmental damage must have gone into recession too!

Anyone would think all these green taxes were just to raise income and nothing to do with any environmental policy

mizzbiz

Woah, this has got to stop. People shouldn't be borrowing money for new cars anyway.

Generali

mizzbiz wrote: »

Woah, this has got to stop. People shouldn't be borrowing money for new cars anyway.

They're borrowing money from you and your kids to do it. Even worse, if you refuse to lend them the money you'll have your assets taken from you by Government agents and you'll be thrown in prison.

StevieJ

Generali wrote: »

They're borrowing money from you and your kids to do it. Even worse, if you refuse to lend them the money you'll have your assets taken from you by Government agents and you'll be thrown in prison.

They may make some dosh, gives them a chance to control what people drive. I bet they will only give loans on those little squashed up things that you can park on a postage stamp:D

Wookster

What was Gordong (aka Crash) saying about irresponsible lending?

Generali

StevieJ wrote: »

They may make some dosh, gives them a chance to control what people drive. I bet they will only give loans on those little squashed up things that you can park on a postage stamp:D

Actually it's something I've noticed about Aus: you can park as many cars as you like on your property. I tried to explain to people here that the UK Government (local and national) thinks driving is bad so they ban parking.

People look at me like I'm an idiot that must have it wrong. If you want to ban driving then ban driving, not parking.

Radiantsoul

mizzbiz wrote: »

Woah, this has got to stop. People shouldn't be borrowing money for new cars anyway.

Why?

I can see a problem with matching the payments for use of an asset with the actual use of an asset.

WTF?_2

Generali wrote: »

They're borrowing money from you and your kids to do it. Even worse, if you refuse to lend them the money you'll have your assets taken from you by Government agents and you'll be thrown in prison.

You're coming over all Tin Foil Hat there

But giving taxpayer money out as car loans (and probably all sorts of other consumer loans) as a way to get us out of this mess is madness.

The excuse originally given for direct govt loaning to business was to enable otherwise solvent businesses to keep making payroll and handle day to day cashflow. Now it seems these idiots are still hellbent on trying to stoke up a ciraca 2007 level of borrowing to consume. Sheer stupidity.

Radiantsoul

!!!!!!? wrote: »

You're coming over all Tin Foil Hat there

But giving taxpayer money out as car loans (and probably all sorts of other consumer loans) as a way to get us out of this mess is madness.

The excuse originally given for direct govt loaning to business was to enable otherwise solvent businesses to keep making payroll and handle day to day cashflow. Now it seems these idiots are still hellbent on trying to stoke up a ciraca 2007 level of borrowing to consume. Sheer stupidity.

A business without customers is unlikely to be solvent for long. There does need to be some borrowing in the economy, presumably the aim is to tame the rate of increase rather than to slash credit altogether.