Beautiful Virgin Islands

Tuesday, Jun 03, 2025

UK manufacturing leaders call for emergency bailout

UK manufacturing leaders call for emergency bailout

Make UK says direct state support is needed to ensure firms survive during Covid-19
Manufacturing industry leaders have called on the government for an emergency bailout as the coronavirus outbreak forces factories across Britain to an effective standstill.

Sounding the alarm as Covid-19 crushes production levels and puts growing numbers of firms on the brink of collapse, the industry group Make UK said ministers needed to step in with direct state support to ensure the short-term survival of firms.

Britain’s foremost manufacturing group – which represents 20,000 companies of all sizes in engineering, manufacturing, technology and the wider industrial sector – said highly skilled jobs and critical supply chains across all regions of the country were at risk without direct support from the state.

The request comes as the chancellor, Rishi Sunak, considers using an emergency budget this summer to speed Britain’s economic recovery as lockdown measures are lifted. Such is the crisis gripping much of industry, The Sunday Times reported that the chancellor is working on plans for a set-piece spending event in parliament during the week of 6 July.

Sunak could use an emergency budget this summer as part of broader plans alongside No 10 to revitalise the economy, as the country slowly emerges from harsh controls on business and social life.

However, it is understood the chancellor could announce additional measures to support jobs and growth without needing to stage a full budget before the autumn.

It emerged last weekend that the Treasury had drawn up plans for the taxpayer to step in and rescue struggling companies to prevent a wave of job losses in sectors hardest hit by the coronavirus crisis.

Under the plan named Project Birch, the government would support companies as a last resort.

Make UK said the extent of the damage caused by the coronavirus crisis and lockdown measures was so widespread that failure to provide direct support this year could drive companies to the wall. Urging the government to step in, it said firms would need help to service debts they had accumulated during the crisis, and that firms in aerospace, automotive and steel would benefit most from direct aid.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
China Accuses US of Violating Trade Truce
Panama Port Owner Balances US-China Pressures
France Implements Nationwide Outdoor Smoking Ban to Protect Children
German Chancellor Merz Keeps Putin Guessing on Missile Strategy
Mandelson Criticizes UK's 'Fetish' for Abandoning EU Regulations
British Fishing Boat Owner Fined €30,000 by French Authorities
Dutch government falls as far-right leader Wilders quits coalition
Harvard Urges US to Unfreeze Funds for Public Health Research
Businessman Mauled by Lion at Luxury Namibian Lodge
Researchers Consider New Destinations Beyond the U.S.
53-Year-Old Doctor Claims Biological Age of 23
Trump Struggles to Secure Trade Deals With China and Europe
Russia to Return 6,000 Corpses Under Ukraine Prisoner Swap Deal
Microsoft Lays Off Hundreds More Amid Restructuring
Harvey Weinstein’s Publicist Embraces Notoriety
Macron and Meloni Seek Unity Despite Tensions
Trump Administration Accused of Obstructing Deportation Cases
Newark Mayor Sues Over Arrest at Immigration Facility
Center-Left Candidate Projected to Win South Korean Presidency
Trump’s Tariffs Predicted to Stall Global Economic Growth
South Korea’s President-Elect Expected to Take Softer Line on Trump and North Korea
Trump’s China Strategy Remains a Geopolitical Puzzle
Ukraine Executes Long-Range Drone Strikes on Russian Airbases
Conservative Karol Nawrocki wins Poland’s presidential election
Study Identifies Potential Radicalization Risk Among Over One Million Muslims in Germany
Good news: Annalena Baerbock Elected President of the UN General Assembly
Apple Appeals EU Law Over User Data Sharing Requirements
South Africa: "First Black Bank" Collapses after Being Looted by Owners
Poland will now withdraw from the EU migration pact after pro-Trump nationalist wins Election
"That's Disgusting, Don’t Say It Again": The Trump Joke That Made the President Boil
Trump Cancels NASA Nominee Over Democratic Donations
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OnlyFans for Sale: From Lockdown Lifeline to Eight-Billion-Dollar Empire
Mayor’s Security Officer Implicated | Shocking New Details Emerge in NYC Kidnapping Case
Hegseth Warns of Potential Chinese Military Action Against Taiwan
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Jamie Dimon Warns U.S. Bond Market Faces Pressure from Rising Debt
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Taylor Swift Gains Ownership of Her First Six Albums
Bangkok Ranked World's Top City for Remote Work in 2025
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
White House Press Secretary Criticizes Harvard Funding, Advocates for Vocational Training
France to Implement Nationwide Smoking Ban in Outdoor Spaces Frequented by Children
×