The Coalition welcomes the Government’s move to divert the $429 million from this scheme to post-flood rebuilding.

The car buyback program was doomed to failure from the start. Among other problems, Cash for Clunkers:

was based on no serious assessment or research;

would have generated more money for overseas than local car companies;

would have reduced the availability, and forced up the price, of used cars;

would have reduced work for local component manufacturers and car repairers;

was being used to prop up Labor’s failed Green Car Innovation Fund;

was to reduce spending in other Australian industry sectors; and

priced carbon emission reductions at a rate 28 times the Coalition’s alternative plan.

Cash for Clunkers joins the list of ill conceived, failed or dumped Labor policies

Labor failures include: Pink Batts, School Halls, Green Loans, Solar Rebate, Solar Rebate for remote areas, Solar Schools, Green Start, The Citizens’ Assembly and the PM’s promise of no carbon tax; as well as today’s cuts to the Green Car Innovation Fund the Cleaner Car Rebate Scheme (or Cash for Clunkers) and the LPG vehicle scheme.

"Cash for Clunkers was a hopelessly thought out promise from a PM and a Minister who splurges taxpayer funds like a pair of pirates dividing up the loot. This program should never have been announced."