Private investment is 'vital' to support export-led growth
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Posted by Glyn Jones
Transport experts have called on the government to unlock private sector investment to support export-led growth in the UK.
In order to promote competitiveness in the export and automotive industry, the Society of Motor Manufacturers and Traders (SMMT) has urged the government to use the autumn statement to deliver tangible changes to support growth.
Among the areas proposed for reform by the SMMT are R&D tax credits, capital allowances, skills, business rates and access to affordable finance.
Paul Everitt, SMMT chief executive, stated: "Next week's autumn statement will be crucial in determining the rate of UK economic recovery."
"We have an opportunity to speed up the re-balancing of the economy and to generate new high value employment," he continued.
Increased competitiveness in both the export and automotive industries will be welcomed by UK fleets, which are facing rising commercial vehicle costs and export taxes.
Growth in exports will have a particularly noticeable knock-on effect in the haulage industry and will be essential for industry recovery.
