LONDON (Reuters) – A group representing British manufacturers said on Thursday it wanted an immediate deferment of tax and social security payments national, warning that thousands of layoffs were looming as the coronavirus crisis hits the economy.
“There are alarm bells going off right across the manufacturing sector with the prospect of substantial lay-offs looming,” Stephen Phipson, chief executive of Make UK, said.
“Order books are collapsing and this is creating immediate cashflow issues for companies which need addressing within days not weeks.”
(Writing by William Schomberg; editing by Michael Holden)
