Automotive Industry

Debate between Viscount Younger of Leckie and Lord Soley

Wednesday 19th March 2014 Lords Chamber

[Viscount Younger of Leckie]

Much innovation is going on, across a range of issues. It is very good that we have announced today some help particularly for apprenticeships and a doubling of funding for our direct lending programme to £3 billion. Innovation is key to making sure that the products that we make are in demand abroad, not just in Europe but beyond.

[Lord Soley (Lab)]

Does the Minister, who is a generous man, agree that the scrap-and-buy-new cars scheme introduced by the previous Prime Minister in 2009 deserves grateful thanks for the revival of the automotive industry following a particularly difficult period?

[Viscount Younger of Leckie]

Indeed. It is good to hear that. Last year, we produced more than 1.5 million cars in the UK, which was 3% up on 2012, so it is a real success story, with a car rolling off a British production line every 20 seconds. The UK has now overtaken France as the third largest European car producer, behind Germany and Spain.

EU: UK Membership

Debate between Viscount Younger of Leckie and Lord Soley

Monday 11th February 2013 Lords Chamber

[Viscount Younger of Leckie]

I do not agree with my noble friend, but I stress again that it is right to end the uncertainty of the questions that are persistently asked. My noble friend mentioned UK car manufacturers. They effectively saved £0.9 billion in 2009 by not having to pay the common external tariff to export to the EU. This equates to a saving of £1,100 per vehicle exported in 2009 to the EU. I stress that there are large figures involved in needing to settle the uncertainty.

[Lord Soley]

I put it to the Minister that he is not answering the question about the judgment of investors as a result of the uncertainty created by a referendum. Can we have his assessment of the impact of the uncertainty of a referendum on inward investment?

[Viscount Younger of Leckie]

I cannot give any specific figures on that, but I stress again that it is important to end the uncertainty. That is why my right honourable friend the Prime Minister has set out in the other place his stall in terms of how we go forward, including with a referendum.