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INDUSTRY BEING “DECIMATED” BY TORIES AS UK CAR MANUFACTURING SHRINKS TO 66 YEAR LOW

The UK’s manufacturing industry is being “decimated” by the Tories, the SNP has warned as forecasts spell a poor outlook for the future amidst record lows.


It comes as car manufacturing in 2022 fell to its lowest level in 66 years, a 10% drop from 2021 which itself was a historic low.


The Society of Motor Manufacturers and Traders said the UK produced 775,014 cars last year. In 2019, before the Covid pandemic, the UK had made 1.3 million vehicles.


Rising costs, reduced consumer demand amidst the cost of living crisis, and continuing Brexit chaos are adding increased pressures on the manufacturing sector as a whole, which shrank 4% across the board in 2022, with forecasts predicting a further 3.2% decline in 2023.


Commenting, the SNP’s Economy spokesperson, Stewart Hosie MP said:


“We’re witnessing the UK’s manufacturing industry being decimated by the Tories before our very eyes, with each passing year set to bring in record drops in production as we wrestle with the UK government’s economic mistakes.


“Whether it’s through their failure to get a grip of rising costs or ease household financial pressures, or through their self-imposed Brexit damage, it’s abundantly clear the Tories are unfit and unable to deal with the UK’s contracting economy.


“While our EU neighbours are bouncing back from the pandemic and welcoming economic success the UK is languishing behind as the Tories efforts to close us off from our closest trading partners sets up barriers on investment and trade.


“This is part of a pattern of decline that indicates a grim economic future under the Tories in Brexit Britain, all the more reason why Scotland needs to be able to forge a better path with the full powers of independence.”


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