NFDA submits Autumn Budget proposal
The National Franchised Dealers Association (NFDA) has urged the government to address key automotive issues when it delivers its Autumn Budget next month.
Chancellor of the Exchequer Rachel Reeves is expected to announce her Budget on 26 November.
It its Budget proposal, the NFDA has called on the government to address a number of challenges now impacting the automotive industry, so safeguard the future of the sector and drive investment.
These include tax changes to increase electric vehicle adoption, extending the ZEV Mandate deadline, freezing fuel duty, remove Apprenticeship Levy clawback, improving the electric vehicle charging infrastructure, and removing business rates stealth tax.
Opportunity
Sue Robinson, NFDA CEO, said: “The upcoming Autumn Budget in November marks the second major fiscal event under Sir Keir Starmer’s Labour government and is the best opportunity this year to provide clarity on the government’s strategy for the automotive sector.
“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 £200bn. 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.”
