With a year to go before the U.K. officially leaves the EU, it is essential both industry and government do “all they can” to make sure investments stay in the country, said the Society of Motor Manufacturers and Traders (SMMT).
While the ability to trade with the EU was “essential,” the trade body said competitiveness “starts at home.”
“Business rates, capital allowances and energy costs, for instance, must all be globally competitive; training and skills for a productive workforce must focus on new technologies and the U.K. supply chain must be attractive to investment,” it said.
SMMT said the next 12 months would be crucial as a number of manufacturers will be making key decisions on where to build new models.
Releasing its latest production figures and forecasts, SMMT said 1.731m vehicles were produced in the U.K. in 2017, and predicted a slight drop in production to 1.729m in 2018. If “positive production decisions” are made for the U.K. over a number of future models, production could increase to more than 1.8m vehicles in 2023.
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