Business News
Czech lawmakers pass plan to boost car sales
Sep 9, 2009, 17:03 GMT
Prague - Czech lawmakers Wednesday approved a plan to boost car sales, by overruling a presidential veto of measures aimed at easing the fallout of the global economic crisis.
Under the scheme, drivers would receive 30,000 koruny (1,715 dollars) if they scrap a car at least 10 years old and buy a new one for up to 500,000 koruny (28,596 dollars).
It is up to the government to decide if and when to start the programme, which would expand the country's ballooning budget gap.
President Vaclav Klaus vetoed the stimulus law, which includes the car scrap subsidy, on July 9. The parliament's lower house approved it 101-4, by the lowest number of votes required to override the veto in the 200-seat chamber.
Similar car sales incentives were adopted in at least a dozen other countries, including Germany, the US, France, Italy, Slovakia and Spain.
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