Half of man­u­fac­tur­ers ex­pect job losses be­fore end of year

The Daily Telegraph - Business - - Business -

Al­most half of Bri­tain’s man­u­fac­tur­ing busi­nesses ex­pect to axe jobs in the next six months – up from a quar­ter just over a month ago, writes Alan Tovey.

The find­ings from trade group MakeUK ex­pose the huge chal­lenge faced by fac­to­ries as the coun­try’s bat­tered econ­omy emerges from lock­down, and fol­low a wave of re­dun­dan­cies in aerospace, travel and re­tail.

MakeUK also found that just 16pc of man­u­fac­tur­ing com­pa­nies are op­er­at­ing at full ca­pac­ity. A third of com­pa­nies in the sec­tor ex­pect nor­mal busi­ness lev­els will not re­sume for a year or more.

The in­dus­try as­so­ci­a­tion is now call­ing on Rishi Su­nak, the Chan­cel­lor, to launch mas­sive sup­port in next week’s sum­mer state­ment or risk long-term dam­age to a sec­tor which em­ploys 2.7m peo­ple and gen­er­ates 10pc of eco­nomic out­put. In­dus­try chiefs are seek­ing in­creased in­cen­tives to boost re­search spend­ing, train­ing and pro­duc­tiv­ity.

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