We now export more cars than we import for the first time since 1976.
All of you who are regular readers will know that one of the elements of this Governments work I am most supportive of is the rebalancing of our economy away from the casino banking we saw under Labour to a sustainable economy, fundamentally based around manufacturing. Our manufacturing of cars is a key indicator that the Government is getting this right.
In the first three months of this year, the UK manufactured 401,412 vehicles – a 12% increase on the previous quarter.
- Jaguar Land Rover is to spend an extra £1 billion with suppliers over the next four years and will create 300 jobs.
- Vauxhall have also recently announced that 2,000 jobs have been secured and 700 new jobs will be created at their plant, while a further 3,000 jobs are expected to be created in the supply chain. - Nissan continues to be a growing success story for us here in the North East.