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UK automotive industry will drive in investment-led growth

“Automotive manufacturing can drive UK economic recovery, enhance global competitiveness and lead the transition to a low carbon future if targeted incentives are in place to encourage private sector investment,” said Paul Everitt, SMMT Chief Executive, ahead of the Party Conferences.

Over the next three weeks, SMMT will deliver this message at a series of Party Conference fringe events expected to attract high profile MPs, local councillors and policy advisers.

SMMT is seeking cross-party support for measures to help unlock private sector investment into R&D, specialist skills training and new plant and machinery.

“It is not a question of if investment in the global automotive industry will take place, but when and where it will happen,” said Paul Everitt, SMMT Chief Executive.

“The competition for high value investment is intense and it is essential the UK does all it can to win its share. The industry has demonstrated great strength and resilience and this has been rewarded by new commitments to UK facilities from global vehicle manufacturers. There are now real opportunities to strengthen the UK supply base and bring new investment into fast emerging ultra-low carbon technologies. Targeted tax incentives and support programmes can help trigger the private sector investment needed to kick start growth.”

The UK is well placed to take the lead in moving toward a low carbon economy, and SMMT will present a position paper at the party conference fringe events, outlining its stance on low carbon growth. On industry’s behalf, SMMT will use the paper to focus discussion on government-led measures to ensure long-term investment in low carbon technologies and specialist skills training, whilst raising consumer awareness of low carbon options.

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