Plunging car figures suggest UK economy is entering the slow lane Magazine

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The jewel in Britain’s manufacturing crown has reached risk because of Brexit uncertainty and falling wages Britain’s largest union, Unite has warned, as production figures showed the amount of cars earned in British factories destined to your UK market had plunged 28 per cent to 24,276 within the last few month.

Today’s figures on the Society of Motor Manufacturers and Traders (SMMT) show falling domestic sales of a fourth month in row, while cars destined to your export market rose by 1.3 per cent.

Tony Burke, Unite Assistant General Secretary says: “This is awful news while in the run-up to Christmas with the British car industry along with the UK economy. The continued falling demand in the UK market owing to Brexit uncertainty and falling wages is yet more evidence the government’s economic incompetence.

“When other economies worldwide are motoring ahead, the british isles is stuck during the slow lane hobbled by the biggest squeeze in wages for the reason that Napoleonic era. Meanwhile uncertainty around Brexit is leaving motor manufacturers stalling within the investment found it necessary to maintain Britain’s world leading status in car making.

“The motor market is the jewel while in the UK’s manufacturing crown, sustaining communities with decent well paid jobs. Government ministers have to rid themselves of the economic complacency and tackle falling incomes which are putting people’s wallets and the UK economy into reverse.”

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