Paint is already recycled in America and Canada and has been started in this country by a few companies too. I think it is mainly water based paints that are recycled and they mix large amounts of similar colours to make basic colours before re-canning and selling it. Obviously, colours will be limited but it's better than wasting it and the companies will probably be making good money before long.
Some councils here will take old paint and do a similar thing with it to use in council properties.
Some councils here will take old paint and do a similar thing with it to use in council properties.