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Budget 2018: Avoids potholes, but stalls on car makers

Budget 2018: Avoids potholes, but stalls on car makers

Justin Benson, Head of Automotive at KPMG UK, comments on the Chancellor’s announcements in this year’s Autumn Budget.

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Justin Benson - Director and Head of Automotive at KPMG in the UK

Director and Head of Automotive

KPMG in the UK

Contact

Also on home.kpmg

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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For further information please contact:

KPMG Press office

Tel: +44 (0) 207 694 8773

Jo Chileshe, KPMG Corporate Communications

M: 07919 211 803

E: Jo.Chileshe@kpmg.co.uk

About KPMG

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 14,500 partners and staff.  The UK firm recorded a revenue of £2.2 billion in the year ended 30 September 2017. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 154 countries and territories and has 200,000 people 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.  Each KPMG firm is a legally distinct and separate entity and describes itself as such.

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