On Monday, Make UK, a UK trade body stated, the government should provide direct support to strategic manufacturing sectors and companies, including those in the steel, aerospace, and automotive space, to help through mitigate the coronavirus crisis.
As Britain slides into the recovery phase, the government should adopt a “more radical approach” to protect these sectors and companies by ensuring that they are able to access capital to service debt, said Make UK.
“These companies are in key strategic sectors for the UK internationally and provide substantial numbers of highly skilled jobs across the UK and down through their supply chains,” said Make UK’s Chief Executive Stephen Phipson.
He went on to add, “Many are also in regions which would suffer disproportionate economic harm if they did not survive. Government should therefore intervene directly to provide support and ensure their survival”.