SMMT statement on the election of Liz Truss as Conservative Party leader

Mike Hawes, SMMT Chief Executive, said:

SMMT congratulates Liz Truss on her election as Leader of the Conservative Party and looks forward to working with her and her new team to drive the economic growth and investment the country desperately needs. The new Prime Minister faces immense challenges, not least the urgent need for measures to mitigate the crippling effect of skyrocketing energy prices on businesses and households. Reducing the cost of doing business must be a priority.

Growth, however, will depend on a competitive business framework which stimulates investment, drives innovation and positions the UK at the forefront of global issues, not least the race to net zero. UK Automotive is well positioned to deliver these ambitions and the high value jobs that accompany them.