Government responds to ‘Assistance to Industry’ select committee inquiry

19 May 2011 #SMMT News

A government response has today been issued following an inquiry conducted by the House of Commons Business, Innovation and Skills Select Committee into government assistance to industry, outlining plans to strengthen the UK’s economy by making it a more attractive investment proposition.

Broadly welcomed by the automotive sector, but also recognising the need for further dialogue to support growth for UK businesses and collaborative partnering across the public and private sector, government’s response also outlined initiatives to support UK automotive.

“The automotive sector is well placed to deliver economic growth in the UK and government’s response indicates its commitment to creating a prosperous environment for industry,” said Paul Everitt, SMMT Chief Executive. “Industry welcomes the Committee’s recommendations for further dialogue between government and the financial sector on measures to improve the availability of credit and cost of finance, as well as government’s commitment to collaborative initiatives, such as the Automotive Council, to further showcase UK automotive and attract overseas investment.” 

The Society of Motor Manufacturers and Traders submitted evidence to the Committee’s enquiry, which followed the publication of government’s Growth Strategy in March. To download the full government response click here.

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