“Labour has been pressing the Government to do more for major industrial companies who so far have been cut out of the Government backed lending schemes because they are not classed as ‘investment grade’. These companies in sectors like steel and automotive are often the main employers in the towns and cities where they operate and are the backbone of our manufacturing sector.
“We welcome the Treasury lifting the CLBILS lending limit, after Labour pressure, but the largest industrial companies are burning through more than this as a result of the lockdown. We must do more to help companies large and small through this crisis and avoid a repeat of the mass unemployment we have seen in the past.”