The Future of Automotive: Will next Government deliver on growth?

THE sustained expansion of the UK automotive sector will form a vitally important component of the next Government’s economic growth strategy and many in the industry are keen to know if the politicians will be capable of delivering.

Businesses and trade bodies have spent the past few months trying to ensure the various parties are on board with what is required.

The Society of Motor Manufacturers and Traders (SMMT) has already outlined its list of priorities.

It said that with more than 400,000 cars rolling off production lines in the first quarter of 2015, volumes this year were expected to exceed pre-recession levels.

Keen to sustain this growth, it has said the continued delivery of the Automotive Sector Strategy through the Automotive Council is vital. The strategy focuses on the continued development of the industry’s supply chain, skills initiatives, innovation and ensuring the wider business environment is capable of meeting the industry’s needs.

The increasing use of new technology in vehicles is also seen as a priority, therefore many SMEs will be hopeful of an increase in the rate of R & D (research and development) tax credits to enable new advances to be made.

Ensuring the right conditions for growth extend to concerns about a referendum on the UK’s membership of the EU.

Many businesses are concerned that committing the UK to withdrawing from Europe would be a detrimental step and jeopardise many long-standing export agreements.

Business support will also occupy the thoughts of many firms in the supply chain, especially those to have received help both financially and intellectually. Many will be keen to know if the next Government will commit to new funding programmes.

All this week, TheBusinessDesk.com has joined forces with Lloyds Bank, MHA Bloomer Heaven and Irwin Mitchell to assess the strength of the automotive supply chain whether it is capable of meeting future demands.

Our latest supplement assesses the current state of the industry, what challenges lie ahead for the automotive sector and whether the next Government will commit to the policies which can help to sustain an industry that has undergone a drastic renaissance from the dark days of 2009 when many of the manufacturers were forced to go cap-in-hand to the Government to ask for help to survive.

To download a copy of the supplement, please click here