The automotive industry is anticipating the upcoming Autumn Budget in November, expecting clarity on the Government’s strategy.
Industry experts have shared their views and expectations.
Vertu Motors CEO Robert Forrester said: “My message would be: ‘Your strategy did not work last time. You managed to put a damper on economic growth to the extent that we now have not got any.
“Business is not a bottomless pit of money that can be pillaged by government to fund expenditure, which the country may not be able to afford. There must be a radical change in approach.”
The National Franchised Dealers Association submitted its Budget proposal to the Chancellor of the Exchequer, Rachel Reeves MP, ahead of the 15 October submission deadline, for consideration in preparation of HM Treasury’s 2025 Autumn Budget, scheduled for 26 November.
The submission addressed a wide range of challenges and opportunities.
Key priorities outlined by the NFDA included tax changes to increase electric vehicle adoption, extension of ICE vehicles deadline in ZEV mandate to align with European manufacturing output, freeze fuel duty, reform inheritance tax, removal of apprenticeship levy clawback, charging infrastructure, removal of business rates stealth tax.
Sue Robinson, Chief Executive of the NFDA, said: “This year, the Government has made fiscal announcements, including the Spring Statement in April and the Spending Review in June, where the automotive sector was mentioned. However greater clarity has been consistently needed. The upcoming Autumn Budget is a real opportunity to demonstrate some meaningful sentiment with policy support.
“Our sector accounts for around 78% of the UK automotive workforce, approximately 600,000 jobs, and generates a turnover of around £200 billion. This drives billions of pounds in annual contributions to the UK economy, underlining our critical role in the nation’s economic strength.
“NFDA urges the Chancellor to drive investment in automotive and address the needs of the automotive retail sector as a priority.”
