Justin Benson, Head of Automotive at KPMG UK, comments on the Chancellor’s announcements in this year’s Autumn Budget.
He said: “The £420m announced by the Chancellor to improve the UK’s roads by repairing potholes is good news for drivers, particularly for those in the freight industry. Our roads have been underinvested in for the last decade, deteriorating each winter, and this boost to Britain’s infrastructure will put us on a firm footing, particularly as businesses ramp up their exports.
“With the development of autonomous and electric vehicles, the relief for buying IP-rich firms is extremely important for the UK’s automotive sector to achieve sustainable growth and to continue competing on the global stage. It was, however, disappointing to not see any incentives for carmakers in the short-term, particularly to encourage consumers to buy electric vehicles. This would have been helpful in countering current trends in car sales as uncertainty will continue to loom until after Brexit.”
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