Anneliese Dodds MP, Labour’s Shadow Chancellor, commenting on a call from Make UK to Government to provide direct support to key manufacturing sectors, said:
“We have been urging the government to face up to the challenges faced by many manufacturers during this crisis, not least because they have often been unable to access sufficient loan-based support. Manufacturing firms are often anchors of their local economies, not just directly but also through their supply chains.
“Although government has signalled it may potentially be willing to provide equity in some situations, it lacks a strategic approach.
“Equity support must be linked to supporting employment, adhering to environmental requirements, and delivering long-term value for money by preventing short-term dividend payments, share buybacks, and poor tax practice.”