The automotive trade body has joined the Association of the British Pharmaceutical Industry (ABPI), ADS, the Chemical Industries Association (CIA), and the Food and Drink Federation (FDF), to create The Manufacturing Five, which together employs nearly 800,000 people creating a turnover of £338.2bn and £166bn in exports.
Its joint report addresses five key areas: levelling up the UK; achieving net zero; building a science superpower; establishing world-class regulatory frameworks; and supporting international leadership.
Mike Hawes, SMMT chief executive, said: "Manufacturing matters to the UK economy. It supports thousands of highly skilled, well-paid jobs right across the country, with sectors such as automotive contributing some £12bn to the UK economy and exporting products around the world. As the sector transitions to the production of increasingly connected and electrified vehicles, it can play a crucial role driving Britain's productivity, creating additional jobs, and delivering economic growth in areas that demand investment.
"This is why countries compete fiercely to have an automotive sector and why the UK must look to enhance our competitiveness to deliver economic, social and environmental ambitions."