Leaders Council: MD of Welsh manufacturing firm concerned about longevity of Job Retention Scheme
With the government poised to ease some of the UK’s Covid-19 lockdown measures next week to encourage people to return to work and reboot the economy, the managing director of one Welsh manufacturing firm has told of his concerns that the government will look to phase out its Job Retention Scheme in June, just as many businesses are likely to need it.
Speaking to the Leaders Council of Great Britain & Northern Ireland, Hugh McAulay, managing director of Bridgend firm Abril Industrial Waxes, told of his hopes that the government will not put a stop to the Job Retention Scheme before the end of June, even though some firms will be looking to restart operations by that stage.
Explaining his position, McAulay said: “Considering that we [at Abril] are quite far back in the supply chain, mainly from the car industry around the world, we have largely been unaffected by the furloughing that has devastated some industries but, now as we look forward beyond May, we are seeing demand fall to almost zero in June.”
In light of this, June and July is the more likely time that a business such as Abril is likely to have to weigh-up the prospect of furloughing employees.
McAulay added: “My concern, and surely also that of others in our situation in terms of supply chain positioning, is that the UK government does not prolong the coronavirus Job Retention Scheme beyond the end of June when we might need it most."
The full report may be read on the Leaders Council of Great Britain & Northern Ireland website here.