The automotive industry body The Society of Motor Manufacturers & Traders (SMMT) has today warned of a “precipitous” fall in investment in the car manufacturing sector.
The SMMT says that investment in Britain’s car industry has effectively stopped amid fears over Brexit, with a “pitiful” £90m pledged for new developments in the first six months of this year.
Commenting, Bridget Phillipson, Labour MP for Houghton and Sunderland South and leading supporter of the People’s Vote campaign, said:
“The consequences of Brexit are already becoming all too real for the British car manufacturing sector, with industry groups warning of a 'precipitous' decline in investment. This is a sector that supports tens of thousands of highly skilled jobs being put at risk by Brexit.
“The car industry - like so much of our manufacturing and other sectors - depends on frictionless trade with Europe. Any form of Brexit would be damaging, but Boris Johnson's casual threats about No Deal are now putting huge numbers of people's jobs and livelihoods on the line. He has no mandate for this. It's a democratic outrage.
“With the Brexit crisis growing and the consequences already being felt by working people across the country, it is only right that we ask the public if this is what they want through a People’s Vote.”