Greg Smith

Greg Smith

Conservative — Mid Buckinghamshire

Speaking in the House of Commons on 31 October 2024

Debate

Industrial Strategy

Contribution

The Minister mentions the car industry. Yesterday, after the Budget of broken promises, talking about the industrial strategy, Mike Hawes of the Society of Motor Manufacturers and Traders said: “Delivering that strategy depends on the UK being globally competitive. Additional National Insurance Contributions will put massive pressure on the automotive supply chain which is predominantly SMEs.” He described the lack of substantive measures to support the new car market as “hugely disappointing”, concluding that, “the cost will soon be felt in reduced UK investment, economic growth and jobs.” With such dire warnings so early on, is this not more evidence that Labour just does not get business and that its industrial strategy is in tatters before it has even begun?

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