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British car industry body criticises Brexit uncertainty
September 30, 2016 / 8:51 AM / a year ago

British car industry body criticises Brexit uncertainty

LONDON, Sept 30 (Reuters) - Britain’s car industry body said on Friday that current uncertainty over Brexit was not conductive to attracting investment and that the government must maintain the competitiveness of the sector.

Nissan said it could scrap a potential new investment in the country’s biggest car plant unless Britain pledged compensation for any tax barriers resulting from its decision to leave the European Union.

When asked about Nissan CEO Carlos Ghosn’s remarks, the head of the Society of Motor Manufacturers and Traders (SMMT), said: “The current uncertainty is not conducive to attracting manufacturing investment to the UK.”

“The government must do all it can to maintain the competitiveness of the UK automotive sector, which has been hugely successful in boosting exports, creating jobs and generating economic growth in recent years,” SMMT CEO Mike Hawes said. (Reporting by Costas Pitas, writing by Guy Faulconbridge, editing by Sarah Young)

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