Automotive industry responds to the chancellor's new budget

Image: SMMT
Image: SMMT

Yesterday the UK chancellor Rishi Sunak set out his budget for 2020, announcing the Government’s tax and spending plans for the year ahead.

Mike Hawes, chief executive of automotive trade association, the SMMT, responded to the plans: “Unprecedented situations call for unprecedented measures so today’s emergency funding and wider measures to support businesses and workers in managing the likely effects of coronavirus is very welcome.

“Given the immediate challenges, however, we are pleased to see the Chancellor find room in his Budget to help make zero emission motoring a more viable option for more drivers – essential if we are to begin to meet extremely challenging environmental ambitions. The continuation of a plug-in car grant is an essential step in the right direction and, alongside the removal of the premium car surcharge on VED and reduction in company car tax for these vehicles, as well as a strategic review of national charging infrastructure requirements, should help encourage consumers and support the beginnings of a market transition.

“Of course, much more needs to be done to maximise the opportunities as we transition the UK market and industry to new technologies, and the promised spending review will be a crucial moment for government to set out a long term vision for transport decarbonisation and industry investment in the UK.”

The SMMT is one of the largest and most influential trade associations in the UK. It supports the interests of the UK automotive industry at home and abroad, promoting a united position to government, stakeholders and the media.

The automotive industry is a vital part of the UK economy, accounting for £82 billion turnover and £18.6 billion value added. With some 168,000 people employed directly in manufacturing and 823,000 across the wider automotive industry, it accounts for 14.4% of total UK export of goods and invests £3.75 billion each year in automotive R&D. More than 30 manufacturers build some 70 models of vehicle in the UK supported by 2,500 component providers and some of the world's most skilled engineers.

More detail of the UK automotive industry are available at the SMMT's Motor Industry Facts 2019 publication.

SMMT www.smmt.co.uk

Company

SMMT

Related Articles

Environmentally friendly

Aluminium ingot manufacturer Norton Aluminium has appointed Trevor Bird as its new general manager.
8 years ago News
Most recent Articles

Electricity connection agreed for Port Talbot’s greener arc furnaces

Tata Steel has achieved a major milestone in its transformation of the Port Talbot steelworks after signing a connection offer with the Electricity System Operator (ESO). The agreement involves National Grid building new electrical infrastructure capable of powering the 3.2 million-tonne electric arc furnace by the end of 2027.
2 hours ago News

Login / Sign up