Covid-19: Support for Businesses

Part of Business, Energy and Industrial Strategy – in the House of Commons on 16th June 2020.

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Photo of Ed Miliband Ed Miliband Shadow Secretary of State for Business, Energy and Industrial Strategy

I join you today, Mr Speaker, in both mourning and remembering Jo Cox.

I welcome much of the help that the Government have provided, but, according to Make UK, we could see the loss of 170,000 manufacturing jobs this year. In France, steel got loans within 10 days of applying for them, and aerospace is benefiting from billions of pounds of support, including for low-carbon engines. Here, three months after the crisis began, 60% of companies that have applied for large loans are still waiting and there has been no targeted help for our manufacturers. Will the Secretary of State tell us when specific help will actually materialise for sectors such as steel and aerospace?