The call was made by Make UK on the back of distress signals it has picked up from manufacturers across the country over the last week amid the escalating coronavirus outbreak.
According to the industry body, while the measures announced by the chancellor on Tuesday were extremely welcome, they will take some time to feed through into the system, whereas measures which will have a more immediate impact will help employers’ cashflow and enable them to retain staff.
Make UK’s Q1 Manufacturing Outlook survey published on Monday showed that even before the escalation of the Covid-19 crisis, export orders had slumped and turned negative for the first time in three years, while domestic orders were enduring their worst run since 2015.
The particular measures Make UK is calling for include:
“The measures already announced by the Chancellor are welcome but, events are so fast moving that we need to go further. As such, we need urgent measures which will have an immediate impact on the ability of companies to stay afloat during this crisis and retain their staff.”
Make UK www.makeuk.org