UK: SMMT gives 'cautious' response to pre-Budget statement
The UK motor industry on Wednesday sounded a cautionary note after the Chancellor presented his pre-budget statement, and there will be some concern amongst manufacturing companies within the Society of Motor Manufacturers and Traders, the organisation said in a statement. SMMT has consistently highlighted the need to ensure that the tax and regulatory burden on UK businesses is not raised further. The increase in landfill tax, although phased, and the publication of an environmental tax strategy will cause concern to many. In the recent past there have been many examples of environmental measures that have delivered significant extra costs without substantial benefits.
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