The prospect of self-driving cars will give the British economy a massive £51 billion boost as it cuts traffic congestion and accidents in London, a new study has revealed.

Driverless cars will reduce human error leading to crashes by 2030

Driverless cars will reduce human error leading to crashes by 2030. Image by Matt Biddulph / CC BY 2.0

Within the next 15 years, the car industry will create 320,000 new jobs in London and the rest of the UK, according to the KPMG report.

The Evening Standard reported that the study stressed self-drive cars would reduce serious road traffic accidents by 500 a week by 2030, because human error would be removed from the equation.

The study, specially commissioned by the Society of Motor Manufacturers and Traders, also claims Britain will be a global leader in the production of such ‘next generation’ vehicles.

The findings were announced at SMMT Connected at London’s QEII Centre, where cars with the latest self-driving technology went on show.