Automotive Industry

Lord Soley Excerpts

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.