Massive layoffs across Britain’s manufacturing sector will come within days without immediate action to ease a cash crisis as orders collapse.
Industry leaders are meeting with ministers on Thursday to ask for relief on VAT, PAYE and National Insurance bills.
One source said: “We’ve been hearing from companies since the start of the week warning that they can’t go on but the situation has ramped up suddenly in the past few days.
三级成人视频“Companies are saying that orders have simply gone off a cliff. Manufacturers are telling us that without something happening in the next few days, by Monday they’ll each be making layoffs ranging from the tens to the tens of hundreds.”
Smaller companies without the cash reserves of the bigger businesses that many of them supply are thought to be hardest hit.
三级成人视频MakeUK, the industry group that represents manufacturers, said “alarm bells are going off across the sector”.
On Wednesday, digger manufacturer JCB said it was halting production after a “global order collapse”, following on from most European carmakers that have either already stopped production or will do so in the coming days.
Airbus will halt its French and Spanish plants, with similar closures seen as imminent in its British and Germany operations.
三级成人视频Stephen Phipson, chief executive of Make UK, said: "Substantial lay-offs are looming. Order books are collapsing and this is creating immediate cashflow issues for companies which need addressing within days, not weeks.”
He welcomed the £330bn package of measures三级成人视频 including loans, grants and business rates relief set out by the Chancellor earlier this week, but warned it will not be sufficient or in place quickly enough to prevent a collapse in the country’s industrial footprint.
Mr Phipson added: “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.”
The trade body’s quarterly survey revealed trouble already brewing in the sector before coronavirus hit with full force.
三级成人视频It showed a slump in export orders as foreign demand turned negative for the first time in three years, while domestic orders were enduring their worst run since 2015.
Apart from VAT, PAYE and NI deferments for three months, other measures the sector is calling for are:
- Extending the financial support of Statutory Sick Pay announced in the Budget to cover all companies
- Financial support for employers to pay wages following lay-offs and short-time working, similar to schemes in France and Germany
- Extending the valuation cycles for pension schemes which are expected to be valued in the next three months.
- Extra time for companies to publish their accounts and no penalties for late reporting.