Car ‘swappage’ could yield €129m and create 2,200 jobs

The Government could be €129m richer and help create 2,200 jobs if it introduced cut-price incentives for car-owners to swap older vehicles for newer models.

The claim is contained in the Society of the Irish Motor Industry’s pre-budget submission, which said the move should be considered as part of the Government’s imminent Budget 2014 plans.

According to the SIMI, the targets could be met if the Government cuts VRT by €2,000 for people who trade-in cars more than six years old for new vehicles.