Government's Brexit extension 'utterly unacceptable' for UK automotive

AM-online | April 11, 2019

Government's Brexit extension 'utterly unacceptable' for UK automotive
The Society of Motor Manufacturers and Traders (SMMT) has expressed concerns that the Government’s six month Brexit extension has extended the current period of uncertainty for the automotive sector. European Union leaders granted the UK a six-month extension to Brexit following five hours of talks in Brussels overnight, extending the deadline to October 31 and averting the prospect of the UK having to leave the EU without a deal tomorrow (April 12). The BBC reported that European Council president, Donald Tusk, had said his "message to British friends" was "please do not waste this time". But SMMT chief executive, Mike Hawes, said today that it was “utterly unacceptable that, more than two years since negotiations started, industry still does not know what the UK’s relationship with the EU will be in the coming weeks and months”.

Spotlight

This Citizens’ Report, or Summary of Performance and Financial Information, complements the Agency Financial Report (AFR) for Fiscal Year (FY) 2015 that was published in November 2015. It presents a summary of the Department of the Treasury’s (Treasury or the Department) financial information relative to its vital mission and the stewardship of the resources entrusted to us. Like the AFR, it also highlights Treasury’s priorities, accomplishments, and challenges in implementing programs to promote conditions that enable economic growth and stability at home and abroad, protect the integrity of the financial system, and effectively manage the U.S. Government’s finances and resources. Throughout its rich history, Treasury’s core mission has not changed. Today, with approximately 100,000 employees in its ranks, Treasury remains the steward of the U.S. economy — taking in revenue, meeting financial obligations, and, when appropriate, borrowing and investing public funds. In recent years, Treasury’s role expanded to include being a leader in safeguarding and growing the nation’s economy. For FY 2015, Treasury used the alternative approach identified in the Office of Management and Budget’s (OMB) Circular A-136 to produce its Performance and Accountability Reports, which consists of three reports.

Spotlight

This Citizens’ Report, or Summary of Performance and Financial Information, complements the Agency Financial Report (AFR) for Fiscal Year (FY) 2015 that was published in November 2015. It presents a summary of the Department of the Treasury’s (Treasury or the Department) financial information relative to its vital mission and the stewardship of the resources entrusted to us. Like the AFR, it also highlights Treasury’s priorities, accomplishments, and challenges in implementing programs to promote conditions that enable economic growth and stability at home and abroad, protect the integrity of the financial system, and effectively manage the U.S. Government’s finances and resources. Throughout its rich history, Treasury’s core mission has not changed. Today, with approximately 100,000 employees in its ranks, Treasury remains the steward of the U.S. economy — taking in revenue, meeting financial obligations, and, when appropriate, borrowing and investing public funds. In recent years, Treasury’s role expanded to include being a leader in safeguarding and growing the nation’s economy. For FY 2015, Treasury used the alternative approach identified in the Office of Management and Budget’s (OMB) Circular A-136 to produce its Performance and Accountability Reports, which consists of three reports.

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