Commenting on the latest financial measures announced by the Chancellor, Stephen Phipson, Chief Executive of Make UK, the manufacturer’s organisation, said:
"The Government has taken a decisive step today and we applaud the Prime Minister and Chancellor’s actions unreservedly.
Keeping people in employment so they are able to provide for their families is absolutely vital at such a critical time. Manufacturers place a high premium on looking after their employees and they will applaud the measures announced today which will significantly aid their cashflow through this period, help them retain key skills and in some cases, simply keep them trading. Business and Government have forged a strong partnership in facing these challenges; we asked for radical measures like VAT deferral and we are delighted that Government has responded.
Industry is working flat out to support our vital public services. Today's measures will help provide them with the support they need to ride out this storm and be in a better position to help the economy recover swiftly afterwards. We are confident that Government will continue to work closely with Business as we move further through the challenging weeks and months ahead."