{"id":71772,"date":"2016-06-29T15:06:20","date_gmt":"2016-06-29T15:06:20","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=52265e2e5bee554bbf49ba701047bad4"},"modified":"2016-06-29T15:06:20","modified_gmt":"2016-06-29T15:06:20","slug":"speech-sajid-javids-speech-to-the-smmt-international-automotive-summit-2016","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=71772","title":{"rendered":"Speech: Sajid Javid’s speech to the SMMT International Automotive Summit 2016"},"content":{"rendered":"
\n

As the apocryphal Chinese curse says, \u201cMay you live in interesting times\u201d.<\/p>\n

Well, it has certainly been an interesting seven days in Westminster.<\/p>\n

If nothing else, our nation\u2019s political journalists are enjoying themselves tremendously!<\/p>\n

The past week has produced millions of words of comment, analysis and discussion.<\/p>\n

There\u2019s been endless Parliamentary parlour games and Westminster whispers.<\/p>\n

But none of that should distract us from the very real, very serious issues at hand.<\/p>\n

Since Friday morning we\u2019ve seen instability in the stock market.<\/p>\n

We\u2019ve seen the pound drop to a 31-year low.<\/p>\n

We\u2019ve heard talk of major employers making plans to move jobs out of the UK.<\/p>\n

There\u2019s no question about it, this is a challenging time for British business.<\/p>\n

The nation and the economy are facing a situation is that completely without precedent.<\/p>\n

Literally nobody has been here before.<\/p>\n

There is no instruction manual.<\/p>\n

And I know it\u2019s a situation the SMMT had hoped to avoid.<\/p>\n

Like me, three-quarters of your members wanted Britain to remain a member of the European Union.<\/p>\n

Just last week Mike called it \u201ccritical\u201d for the future of British car-making.<\/p>\n

From multinationals to small specialist suppliers, the industry was unambiguous in its support for Remain.<\/p>\n

Now I\u2019m not going to pretend the past couple of months never happened.<\/p>\n

I\u2019m not about to start backtracking on some of the warnings that were made.<\/p>\n

I don\u2019t doubt that there will be difficult times ahead for Britain, particularly for British employers.<\/p>\n

We\u2019re entering a period of uncertainty and \u2013 let\u2019s be completely honest \u2013 we don\u2019t have a good idea how long it will last.
\nBut you can only play with the cards you\u2019ve been dealt.<\/p>\n

The people of the United Kingdom have issued their orders.<\/p>\n

And as a Cabinet Minister it\u2019s my job to put those orders into action.<\/p>\n

So I won\u2019t be sitting around complaining, pointing fingers, or reflecting on what might have been.<\/p>\n

The UK will be leaving the European Union.<\/p>\n

I have to make sure that happens in a way that works for British business.<\/p>\n

A way that works for you.<\/p>\n

The easiest thing in the world would be to stand on the sidelines throwing rocks.<\/p>\n

But I\u2019m not that kind of politician.<\/p>\n

And if there\u2019s one thing I\u2019ve learned in my time as Business Secretary, it\u2019s that you\u2019re not that kind of industry.<\/p>\n

You\u2019re forward-thinking.<\/p>\n

You\u2019re innovative.<\/p>\n

You don\u2019t shirk from challenges, you rise to them.<\/p>\n

Those qualities helped you become one of Britain\u2019s most successful manufacturing sectors.<\/p>\n

And those are the qualities that will help all of us to make it through the days to come.<\/p>\n

So where do we go from here?<\/p>\n

What happens next for Britain, for manufacturing, for the automotive industry?<\/p>\n

Well, this decision may make conditions more challenging.<\/p>\n

But it won\u2019t make things impossible.<\/p>\n

It creates a number of large, complex issues to overcome.<\/p>\n

But we can overcome them.<\/p>\n

And yes, we are sailing into unchartered waters.<\/p>\n

But we are far from rudderless.<\/p>\n

Contrary to some of the more alarmist headlines, the business of government continues.<\/p>\n

Since Friday I\u2019ve been in regular touch with heads of some of our biggest companies to reassure them and talk about next steps.<\/p>\n

Cabinet met on Monday and we agreed to set up a cross-government Europe taskforce.<\/p>\n

Yesterday I met with Britain\u2019s business leaders, including Mike, to hear their views and set out our plans.<\/p>\n

Through all that, my message for British business has been clear and simple.<\/p>\n

Britain remains open for business.<\/p>\n

This is not time for hasty decisions or rushed judgements.<\/p>\n

The markets are volatile right now.<\/p>\n

But this volatility has not come as a surprise.<\/p>\n

All the experts predicted it.<\/p>\n

And the government, the Bank of England and the Financial Conduct Authority have spent the past few months putting in place robust plans to deal with it.<\/p>\n

The Treasury has been working with the major financial institutions to make sure they are able to deal with just this situation.<\/p>\n

Swap lines had been arranged in advance, so the Bank of England can lend in foreign currency if needed.<\/p>\n

The Bank of England stands ready to provide up to \u00a3250 billion to support banks and the smooth functioning of markets.<\/p>\n

And the Chancellor has been in contact with G7 and European finance ministers, with the IMF, and with central bank governors around the world.<\/p>\n

Most important of all, Britain\u2019s economy is fundamentally strong.<\/p>\n

And for that, much of the credit must go to our Prime Minister.<\/p>\n

When David Cameron arrived in Downing Street in 2010 he inherited an economy that was on the brink.<\/p>\n

The deepest recession in living memory, spiralling debt, a deficit that was out of control.<\/p>\n

It speaks volumes about the Prime Minister that, just six years later, the economy is almost unrecognisable.<\/p>\n

We\u2019ve gone from a record-breaking recession to record employment.<\/p>\n

During the last Parliament more jobs were created in Birmingham than in the whole of France.<\/p>\n

The country is home to more private sector businesses than at any point in history.<\/p>\n

The deficit is down from 11 per cent of national income to just three per cent.<\/p>\n

Even after this week\u2019s shock, the UK is still one of the biggest economies in the world.<\/p>\n

And in a sky full of stars, your sector shines brighter than most.<\/p>\n

The past few years have been incredible for the UK\u2019s automotive industry.<\/p>\n

A vehicle rolls off our production lines every 16 seconds, most destined for export.<\/p>\n

Last year we built more cars than at any point in the past decade.<\/p>\n

From the consumer forecourt to Formula One gird, the UK\u2019s automotive expertise is clear to all.<\/p>\n

And from apprenticeships to the Automotive Council to the Advanced Propulsion Centre, automotive has been a model of co-operation between government and industry.<\/p>\n

The politicians and the engineers coming together to do what\u2019s right for business.<\/p>\n

What\u2019s right for jobs.<\/p>\n

What\u2019s right for the people of Britain.<\/p>\n

That is how we achieved the level of success the sector is experiencing today \u2013 and that is going to continue no matter what.<\/p>\n

So although I\u2019m here today to talk, I\u2019m also keen to listen.<\/p>\n

What can we do for you right now and in the future?<\/p>\n

What do you need from the negotiations to come?<\/p>\n

What does Britain\u2019s motor industry want our new relationship with Europe to look like?<\/p>\n

The decision the British people made last week will undoubtedly create many challenges.<\/p>\n

But it also gives us a unique opportunity.<\/p>\n

An opportunity to build from the ground up in a way that really works for Britain\u2019s employers and employees.<\/p>\n

And I want you to be a part of that.<\/p>\n

I want to hear from you in the weeks and months ahead.<\/p>\n

You know your sector, your suppliers, your investors better than anyone.<\/p>\n

And remember this.<\/p>\n

We are still a member of the European Union.<\/p>\n

We are still inside the single market.<\/p>\n

None of that is going to change overnight.<\/p>\n

There\u2019s a lot of negotiation to come, a lot of difficult decisions to make.<\/p>\n

But let me reassure each and every one of you that I will be fighting each and every day to secure a settlement that works for British business.<\/p>\n

We\u2019ve all worked too hard to get our economy growing again.<\/p>\n

Top of my list will be securing the tariff-free access to markets that are so important to Britain\u2019s automotive industry.<\/p>\n

I also want to make sure Britain continues to attract the best design and manufacturing talent from across Europe and around the world.<\/p>\n

And I want the UK to remain a leading destination for international investment in manufacturing.<\/p>\n

Because we cannot afford to turn our backs on the world.<\/p>\n

Last Thursday we saw a vote to have more control over immigration.<\/p>\n

Not a vote to put up the \u201cclosed\u201d sign.<\/p>\n

It\u2019s almost 175 years since a young German named William Siemens arrived in Britain to set up what would become one of the world\u2019s biggest engineering firms.<\/p>\n

In a letter to his brother he wrote that \u201cEngland is the place if anything is to be done.\u201d<\/p>\n

Long before the EU, long before the Common Market, the world knew that Britain was the place to do business.<\/p>\n

That is not going to change.<\/p>\n

Britain is open for business, and Britain will remain open for business.<\/p>\n

Thank you.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Speech by Business Secretary Sajid Javid to the Society of Motor Manufacturers and Traders International Automotive Summit.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"_links":{"self":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/71772"}],"collection":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=71772"}],"version-history":[{"count":0,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/71772\/revisions"}],"wp:attachment":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=71772"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=71772"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=71772"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}