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SMMT calls for government to support UK businesses

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SMMT calls for government to support UK businesses

Monday, 07/12/2009 01:46
The motor industry has urged the UK government to offer greater support for business in order to help boost ailing commercial vehicle sales over the coming months.

According to the Society of Motor Manufacturers and Traders (SMMT), ministers must reduce both the financial and legislative burdens that are currently limiting demand for trucks and HGVs.

The group delivered a letter to chancellor Alistair Darling on behalf of the sector, calling for greater support ahead of the 2009 pre-Budget Report, which is due on December 9th.

It claimed that increasing the enhanced writing-down allowance to 60 per cent would help encourage commercial vehicle purchases, which have been particularly hard hit by the recession.

The group also suggested that more financial assistance should be made available to businesses and logistics firms in the form of greater access to credit, tax payment re-scheduling and cash flow management.

The call came after the SMMT's latest figures showed that new truck registrations fell by 60 per cent in November to 2,063. This marked a drop of 36 per cent for the rolling year.

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