U.K. Auto Industry Reveals Outline of Growth Strategy
The industry wants to partner with government to form an automotive-sector strategy by spring 2013, focusing on targeted measures to grow U.K. auto manufacturing.
The U.K. automotive industry outlines six key areas for government to drive economic growth and make the country a highly competitive global business location for automotive investment.
The Society of Motor Manufacturers and Traders is seeking all-party support for its cooperative effort with the government to form an automotive-sector strategy by spring 2013, focusing on targeted measures to create an environment for U.K. auto manufacturing to flourish.
“Growing our manufacturing base and rebalancing the economy must be a national priority for all areas of government and all political parties,” SMMT CEO Paul Everitt says in a statement.
“With billions of pounds committed to U.K. 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.”
The six priority areas:
Build a globally competitive business environment through a generous research-and-development tax credit and incentives that will attract businesses to the country for the long term.
Establish a low-carbon vehicle catalyst 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 U.K. through the adoption of sustained consumer incentives through to 2020.
Establish a permanent supply-chain fund to support and strengthen the U.K. supplier base.
Increase the impact of funding for apprenticeships and training throughout working careers through simplified access and greater funding flexibility.
Strengthen the U.K.'s voice in Europe to support a quick return to economic stability in the eurozone and deliver policy outcomes that support domestic industrial priorities.
SMMT says that during the past two years the U.K. automotive industry has received unprecedented levels of investment from global auto makers, securing more than £6 billion ($9.7 billion) to support facility expansion, new-model programs, R&D projects and jobs.
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