Private Number Plates Could Generate Â£1,000,000â€™s
Fact – Councils hold valuable assets in private number plates. Yesterday George Osborne announced the biggest welfare reform in a generation, slashing 7 Billion pounds per annum from Britainâ€™s 193.1 bn benefits system. Also raising the retirement age to 66 and detailing an expectation for 489,000 public sector jobs to be axed.
Councils are having their fiances reined in a big way in a bid to save cash strapped blighty.Â Â Many councils have valuable private number plates often used for their Lord mayors vehicle. Aware that private number plates are fast appreciating valuable assets, councils have been very reluctant to dispose of their cherished number plates.
Three years ago Essex County Council sold private number plate F 1 at auction raising Â£440,625, a good days work Iâ€™m sure you will agree. A good day for the purchaser thats for sure.
Bradford based business man Afzal Khan bought the UKâ€™s most expensive private number plates which now takes pride of place on his Bugatti Veyron. Mr Khan has said that F 1 will be sold eventually but has reportedly turned down a Â£5,000,000 offer.
Originally it was Councils and county councils car registration numbers before the DVLA took over the task. Leaving many councils with historic now private number plates. The pressure for councils to cash in on this part of their heritage is likely to increase as public sector workers feel the pain of job cuts.