Australian Prime Minister Julia Gillard has backed down from the Australian Automotive Aftermarket Association (AAAA)-opposed ''Cash for Clunkers" program, which would have provided Australians with a $2,000 payment (USD $1,993) for trading in pre-’95 cars for new vehicles. The $430 million (USD $428 million) program was originally a campaign pledge by Australia’s Executive to take 200,000 older vehicles off Australian streets. She blamed the lack of funds on the recent severe flooding in that country.

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