United Kingdom

Details

  • Industry: Automotive
  • Type: Press release
  • Date: 05/12/2013

Autumn Statement 2013: Chancellor driving the UK automotive industry in the right direction, says KPMG 

Reacting to today’s Autumn Statement, John Leech, KPMG’s Head of Automotive said:

“The Chancellor has demonstrated the government’s commitment to the UK automotive industry.

“Doubling export finance capacity to £50 billion will help UK automotive suppliers export to emerging markets like China, India and Brazil. It will also help the UK’s premium car manufacturers as they try to set up production plants oversees.”

Commenting on business rates, Leech said: “The business rates cut will be welcomed by SME automotive component suppliers, a sector that is growing rapidly buoyed by strong growth in vehicle production and by car dealers who often employ huge numbers of people.”

 

Commenting on fuel duty, MOT and Road Tax, Leech said: “Plans to freeze fuel duty for the remainder of this Parliament and the statutory maximum price of the MOT test for a car, together with the savings from abolishing paper tax discs, will be welcomed by drivers, small businesses and the car industry alike. The savings should help to underpin car sales next year which we expect to be up five percent.”

 

Supporting the development of driverless cars will push the UK auto industry to forefront, Leech said: “The focus on innovation by the government will help the UK lead in development of driverless cars. Plans to review regulation and legislation that applies to the testing of driverless cars in the UK by global car manufacturers will push the UK as a key player in driverless car technology.

 

Ends

 

Follow us on twitter: @kpmguk #AS2013
www.kpmg.com/uk/autumnstatement


For further information please contact:

 

Media enquiries:
Nahidur Rahman, KPMG Press Office
020 7694 8812 (t), 0788191 6975 (m) or nahidur.rahman@kpmg.co.uk
KPMG Press Office: 020 7694 8773

 

About KPMG


KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 12,000 partners and staff.  The UK firm recorded a turnover of £1.8 billion in the year ended September 2012. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 156 countries and have 152,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  KPMG International provides no client services.


 

 
<%@ Page Inherits="Microsoft.SharePoint.Publishing.TemplateRedirectionPage,Microsoft.SharePoint.Publishing,Version=12.0.0.0,Culture=neutral,PublicKeyToken=71e9bce111e9429c" %> <%@ Reference VirtualPath="~TemplatePageUrl" %> <%@ Reference VirtualPath="~masterurl/custom.master" %> Latest News Releases