The Society of Motor Manufacturers and Traders (SMMT) has today warned that investment in the UK motor industry has halved in the first half of 2018 as a result of Brexit uncertainty.
The SMMT called on the Government to commit to remaining in the Customs Union and “maintenance of the benefits the single market delivers”.
Commenting, Phil Wilson MP, leading supporter of the People’s Vote campaign, said:
“The trickle of companies going public about the risks they face from Brexit is becoming a flood. This stark warning from the car industry that they need frictionless trade with Europe to avoid haemorrhaging highly-skilled jobs is simply too important for squabbling government ministers to continue to ignore.
“The car industry in this country either employs directly or supports the jobs of nearly a million people, in every corner of the UK, including 6,500 jobs at Nissan in the Northeast with around 30,000 more in the supply chain. It is a huge and crucial sector of our economy that must not be sacrificed on the altar of a hard Brexit.
“The Brexit being delivered is drifting further and further away from the one that was promised during the 2016 referendum. That's why over 100,000 people marched for a People's Vote last Saturday and that's why the British people should be the ones to decide whether or not the Brexit deal on offer is good enough.”
Notes to editors
The full statement by the SMMT can be read here: https://www.smmt.co.uk/2018/06/uk-automotive-industry-urges-rethink-on-brexit-red-lines-as-uncertainty-bites/
Regional breakdowns of employment in the UK automotive sector can be seen here: