Economy

Government welcomes the Committee’s broad support for the creation of LEPs and believes that local communities and businesses are in the best position to understand and respond to the opportunities and needs of their own economies, and that creating LEPs will allow them to do this.

The Environmental Audit Committee has published its report on the Green Investment Bank (GIB). It has warned that the UK could potentially lose out on hundreds of billions of pounds of investment in green energy projects if government does not commit to its plans for a GIB.

UK car output rose by 6.0% in October and 31.1% over the year-to-date.

Car output rose by 35.0% over the year-to-date, with a 5.8% rise in September.

In reaction to today’s comprehensive spending review, the Society of Motor Manufacturers and Traders (SMMT) is encouraged that, whilst challenging decisions had to be taken, government committed to prioritising areas that will generate growth including ultra-low carbon transport and skills.

SMMT has released automotive production figures for August 2010.

Motoring consumer champion, Motor Codes, has launched a national campaign to make the country’s garages better by gathering feedback from customers. As part of the campaign, those providing feedback could win up to £500 against the cost of their last service or repair.

A leading economic think tank has highlighted the importance of encouraging private sector research and development (R&D) and has said that improving the availability of finance will be crucial to sustaining the recovery and rebalancing of the UK economy.

Boris Johnson, Mayor of London, has launched an “Electric Vehicle Delivery Plan” for London. The document forms the basis of the Mayor’s aspirations to make London a leading centre for electric vehicles (EVs).

The CARS21 Mid-Term review conference took place in Brussels on 29th October.