How will the Recovery Plan benefit the car industry?
The Commission wants a viable and competitive car industry in Europe. The Recovery plan aims to protect jobs in this key sector and to ensure its long-term viability by encouraging sustainable reform that embraces new environmentally friendly technology and makes Europe’s car manufacturers world leaders in an increasingly competitive market. To begin with, the fiscal stimulus should in itself boost all Europe’s industries, by directly increasing purchasing power and also by helping restore confidence – large purchases like cars are more dependent on confidence than most others. In addition, the Plan emphasises the need to make sure that banks – especially those in receipt of state support – maintain and increase lending at affordable rates. This too will help small businesses and individuals make large purchases which require finance, including vehicles. What is more several of the specific measures announced in the Commission proposal aim to help the car industry. For example: * tempo
