Chris Ford, managing director of manufacturing firm Ford Engineering, welcomed the additional support for businesses announced by Chancellor Rishi Sunak today. However, he warned that the delayed budget, combined with uncertainty over Brexit, was hampering businesses’ ability to make firm plans.
“While the Chancellor’s Job Support Scheme isn’t quite as beneficial as the initial headlines suggested, but it will be of some comfort to businesses who will be facing a challenging winter,” he said.
“It means business utilising the scheme will have to pay out more than the hours of work they are receiving however for those confident enough that work levels will return, it will be worth the investment to avoid redundancy and reemployment.
“What’s more concerning is the delay to the budget announcement against the backdrop of Brexit. It’s the biggest unknown we have ever faced and we need clarity so that we can make proper plans.
“We currently have very little information about what’s going to happen, or the nature of our withdrawal from the EU, so regardless of whether we leave with a deal or not, businesses – especially exporters like us – need clarity.”
Ford Engineering is a family-owned manufacturer of precision parts to the aerospace, automotive, mining, offshore and renewables industries.