SMMT statement on new Prime Minister

Monday 24 October, 2022

Mike Hawes, SMMT Chief Executive, said:

SMMT congratulates Rishi Sunak on becoming Leader of the Conservative Party and Prime Minister. What we now need is a clear and compelling strategy for growth and stability, one that reassures markets, shores up battered consumer confidence and ensures the UK is seen as investable. As a major investor and employer, the automotive industry can help drive an economic recovery but we sorely need a period of stability and a framework for competitiveness, one that delivers the conditions and regulatory certainty to attract investment, talent and innovation, and not least in the global race to net zero.