How UK automotive exports contribute to the EU’s economy
Commissioned by SMMT
The EU’s proposed “Made in Europe” policy, if it excludes UK automotive, could weaken the competitiveness of the UK automotive sector and undermine production volumes. This could have wider economic consequences across the EU.
Exports to EU customers illustrate the strength of these links. UK automotive production exported to the EU was associated with €5.6 billion of spending on EU goods and services, supporting approximately 58,000 jobs and €1.6 billion in tax revenues. The benefits reach beyond automotive factories into sectors including transport, professional services, real estate and utilities.
The experts behind the research
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Stephen ForemanAssociate Director, Economic Footprint & Sustainability
Stephen leads a team of economists who assess the economic and social footprint of a variety of different investments, companies, and industries at the global, national and local level. He has led engagements for corporations, financial institutions, government organisations, trade associations, charities, and universities across the world.
Stephen has also worked on Oxford’s Global Industry Service where he was responsible for forecasting the global transport sector, leading Oxford Economics' industry research, and managing consultancy projects for industrial organisations.
Stephen joined Oxford Economics from the UK civil service, where he worked on a range of macroeconomic, fiscal, tax and welfare policy issues across HM Treasury, the Office for Budget Responsibility and the Department for Work and Pensions.
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