Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, what assessment he has made of the potential impact of Autumn Budget 2024 on the automotive sector.

The Budget’s announcements represent a vote of confidence in our automotive industry, enabling future jobs and growth.

Over £2bn of capital and R&D funding to 2030 will support the latest research and development, accelerate commercial scale up, and unlock capital investment in zero emission vehicles, batteries and the wider supply chain.

In addition, Government is investing £200m in 2025-26 to expand electric vehicle (EV) chargepoints, £120m for new electric van grants, and strengthening consumer incentives by widening the differentials in Vehicle Excise Duty First Year Rates between EVs and hybrids vs. internal combustion engine cars.