Following the first ‘Sector Deal’ for the Construction sector presented in November 2017, and the second, for the Life Sciences sector presented the following month in December 2017, on 10 January 2018, the UK Government presented the third sector deal out of a total of four, this time for the Automotive sector. Although the sector has a longstanding partnership history with the State, the government hails this Automotive Sector Deal as groundbreaking in so far as it embodies a new more interventionist industrial strategy based on both financial investment as well as the implementation of an overall policy.
‘The Sector Deal sets out a joint strategic vision’, thus were the UK government’s terms when it presented the automotive sector deal on 10 January 2018. This deal intends for joint industry sector/State funding of £32 million (€36.15 million) to boost competitiveness. The deal also confirms the Government’s investment commitment of £26.4 million (€29.8 million) match-funded by industry, in cutting-edge low carbon vehicle projects (self-drive, batteries, zero and low emissions).
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