Williams, RMIF chairman, said: “Confidence in our financial system must be revived if the economy is to recover, so the Government must work with industry to find the best way to re-ignite the confidence of both consumers and the business community.”

The RMIF said the event, which was held at the House of Commons, was attended by MPs and major motor industry figures.

Williams added: “The RMIF has been in regular contact with Government to discuss measures to help revive the economy.

"We have met representatives from the Department for Business, Enterprise and Regulatory Reform (BERR) and the Department for Transport, along with other industry stakeholders over the last few weeks, in order to discuss ways to re-engage consumer confidence, which we believe is key to the renewal of the economy.”

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