The UK motor industry has called for government to pursue a positive trade policy that encourages manufacturing in the UK, promotes engineering excellence in key emerging markets and draws attention to the country as an attractive business location for international investors.
Paul Everitt, chief executive of the Society of Motor Manufacturers and Traders (SMMT), stressed the need to stimulate manufacturing growth as he provided evidence to the House of Commons Business, Innovation and Skills Select Committee as part of an inquiry looking at the role of trade and investment in rebalancing the economy.
The select committee inquiry comes ahead of a forthcoming trade white paper, published by government, that will address the role of trade and investment in strengthening growth in the UK.
Giving evidence at the House of Commons, Everitt said: ’Future success will depend on increasing investment in UK-based skills, R&D and capital equipment.
’Government needs to ensure sustained promotion of UK engineering excellence in key emerging markets and incentives to encourage more investment into UK manufacturing capability.’