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Article 50 Triggering: NFDA CommentsBack

Following the triggering of Article 50, the NFDA will engage constructively with the Government to ensure the retail motor sector is actively involved in the process going forward

Since the EU referendum in June, the National Franchised Dealers Association has been urging the Government on a number of points regarding areas such as trade, employments and general economic measures.

Particularly, the NFDA has called for:

  • Open trade: the UK needs to remain in the Common Market or get a Free Trade Agreement (FTA) with the EU and avoid 10% tariffs.
  • Low interest rates: interest rates must remain low to continue to support consumer confidence
  • Access to finance: with 1.05 million new vehicles bought by consumers and 505,000 purchased by businesses through finance, it is vital that finance deals remain easily accessible
  • Skills: it is important that access to skills is maintained

For the UK automotive sector to continue to thrive, it is vital that points previously highlighted by the NFDA including open trade, low interest rates and further measures aimed at maintaining economic stability are put forward during the upcoming negotiations between the UK and the EU.

It is positive that the Prime Minister has confirmed the Government’s commitment to strike the freest possible trade agreement and provide as much clarity as possible to businesses during the negotiations.

The NFDA is now looking closely at the White Paper published after the triggering of the Article 50.

Posted by Sue Robinson on 31/03/2017