Commenting on the announcement by the Prime Minister this evening, Stephen Phipson, Chief Executive of Make UK, said:
“In the face of a renewed national crisis the Prime Minister is right to take these vital measures. This fight is likely to occupy much of the coming year and, just as it has done since the start of the crisis, industry has supported the national effort and will continue to do so.
“In return, it is now critical Government revisits the business support packages. Whilst measures such as the furlough scheme are very welcome, businesses are taking on substantial debt, deferring tax bills, postponing mortgage payments and facing empty order books; this cannot continue indefinitely. In strategic sectors like aviation and automotive tonight’s announcement will further damage already fragile demand.
“The Government must now bring forward a comprehensive plan for the next six months that provides certainty, stability and confidence including targeted support for critical sectors. We must ensure that our great manufacturers can survive the coming challenges and be in a position to help drive the recovery when it comes.”