Auto Industry Gives Government Steer On Industrial Strategy
Following government’s commitment to a formalised industrial strategy, the automotive industry has set out six key areas that will drive economic growth and make the UK a highly competitive global business location for automotive investment… Read more
“Growing our manufacturing base and rebalancing the economy must be a national priority for all areas of government and all political parties,” said Paul Everitt, SMMT Chief Executive. “With billions of pounds committed to UK automotive and the global shift to ultra-low carbon technologies, industry and government can provide domestic suppliers with opportunities and deliver growth through a focused sector strategy, building long-term industrial competencies for the country.”
Over the next month, SMMT will deliver this message at a series of automotive industry Party Conference fringe events expected to attract high profile MPs, local councillors, industry stakeholders and policy advisers.
SMMT is seeking cross-party support for its work with government that sets out an automotive sector strategy by spring 2013, focusing on targeted measures to create the right environment for UK automotive manufacturing to flourish.
On behalf of UK automotive, SMMT has developed six clear priority areas in which a compelling automotive sector strategy should deliver:
- Build a globally competitive business environment through a generous above the line R&D tax credit and incentives that will attract organisations to the country for the long-term.
- Establish a Low Carbon Vehicle Catapult that encourages public and private investment in R&D and the development of key technology areas.
- Reaffirm government’s commitment to growing the low and ultra-low carbon vehicle market in the UK through the adoption of sustained consumer incentives through to 2020.
- Establish a permanent supply chain fund to support and strengthen the UK supply base.
- Increase the impact of funding for apprenticeships and training throughout working careers through simplified access and greater funding flexibility.
- Strengthen the UK’s voice in Europe to support a quick return to economic stability in the Eurozone and deliver policy outcomes that support UK domestic industrial priorities.
During the last two years, UK automotive has received unprecedented levels of investment from international vehicle manufacturers, securing more than £6 billion to support facility expansion, new model programmes, R&D projects and jobs.