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British EU membership key for success: car industry

02 April 2014, 17:07 CET
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(LONDON) - Britain's membership of the European Union is "crucial" for the success of the automaking sector, the nation's car industry body said in a key report on Wednesday.

The Society of Motor Manufacturers and Traders (SMMT) revealed the key finding of its study, produced by accountancy firm KPMG.

"The attractiveness of the UK as a place to invest, and the competitiveness of the domestic automotive industry, is enhanced by the UK's membership of the EU," concluded the report entitled "The UK Automotive Industry and the EU".

"Access to single market, integrated European supply chains, EU innovation funding, free movement of labour and the ability to influence harmonised technical regulations and product standards are key EU benefits."

The SMMT study was launched amid ongoing uncertainty over the future of Britain's membership.

Prime Minister David Cameron wants to renegotiate London's relationship with Brussels and stage an in-or-out referendum on EU membership by the end of 2017 if he remains in power after next year's general election.

Cameron, who heads a coalition government that also includes the Liberal Democrats, is under pressure to counter the rising popularity of the anti-EU UK Independence Party (UKIP).

"The position of the UK automotive industry is clear -- being part of a strong Europe is critical for future success," added SMMT chief executive Mike Hawes.

"This report, and our member survey, shows that Britain's EU membership is fundamental to investment, growth and jobs in automotive companies of all sizes," he added.

Hawes said the recent success of Britain's automotive sector is due to its global competitiveness, which is enhanced by access to the huge EU single market.

"If we are to maintain this position and increase access to growing global markets, the UK must play a key role in shaping EU policies, budgets and regulations," said Hawes.


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