A new report by the influential All-Party Parliamentary Motor Group (APMG), ‘Delivering opportunities: Automotive investment for growth’, calls on the government to ensure companies can access the finance they need.
With contributions gathered from parliamentarians, ministers, officials, industry representatives and trade unions, its four key recommendations are:
1. The government should establish structured dialogue between the financial and automotive industries.
2. The government should bring forward innovative support to allow smaller supply chain firms to take on apprentices.
3. The government should bolster its offer of support for low carbon R&D.
4. The government should support the motorsport industry to create a technology roadmap.
Richard Burden MP, Chair of the APMG, said: “It has been a momentous 12 months for the UK automotive industry. Over £5.6bn of investment has been committed by automotive companies across the country.
“Amidst the backdrop of a challenging economy, the UK automotive industry has demonstrated that it is already delivering on opportunities to advance UK ambitions as a leading manufacturing force.”