UK car industry warns 1 in 6 jobs could be lost to coronavirus and Brexit
The UK car industry has called for a financial support package and warned that 1 in 6 jobs could be lost due to coronavirus.
A third of automotive workers are still furloughed, and more than 6,000 UK automotive job cuts have been announced in June as a result of lockdowns, closed markets and shuttered plants, the SMMT said.
The trade group is calling on the Government to address this with a support package for the entire sector to help drive demand and ease cashflow.
Measures including unfettered access to emergency funding, permanent short-time working, business rate holidays, VAT cuts and policies that boost consumer confidence would accelerate a sustainable restart for the market and manufacturing.
Mike Hawes, SMMT chief executive, said: “UK automotive is fundamentally strong. However, the prolonged shutdown has squeezed liquidity and the pressures are becoming more acute as expenditure resumes before invoices are paid.
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