Beautiful Virgin Islands

Tuesday, Jun 24, 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
Macron and Merz: Europe must arm itself in an unstable world
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Airlines Evaluate Flight Cancellations Amid Escalating US-Iran Tensions
Starmer Invites Innovators to Join Government Talent Scheme
UK Economy’s Strong Opening Quarter Shows Signs of Cooling
Harrods Seeks Court Order to Secure Al Fayed Estate for Victims
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
BBC Demands Perplexity AI Immediately Stop Using Its Content
Telegram Founder: I Will Leave My Fortune to Over 100 of My Children
Political Turmoil Resurfaces in Belgium Amid Economic Concerns
Fed policymakers divided on timing of interest rate cuts
Trump signals imminent agreement with Harvard University
Inheritance tax referendum alarms Swiss billionaire community
Japan cancels bilateral security meeting amid US defence demands
AI skeptic Emily Bender warns that ‘the emperor has no clothes’
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
Israel has just announced plans to strike Tehran again, and in response, Trump has urged people to evacuate
Netanyahu Signals Potential Regime Change in Iran
Juncker Criticizes EU Inaction on Trump Tariffs
EU Proposes Ban on New Russian Gas Contracts
Analysts Warn Iran May Resort to Unconventional Warfare
×