Roughly speaking, an amount in the region of the GDP of Denmark has been pledged by the UK Government to shore-up the economy and save businesses in this time of uncertainty. £350,000,000,000.
No matter what side of the political spectrum you fall on, you have to agree that while essential, it’s an essential move by the government to protect the future and livelihoods of so many.
However, nothing in life is free. Something we in business know too well.
That’s why, while we can laud the Government’s necessary move, we must consider the ways in which that quantity of zeros is to be repaid. Afterall, loans have to be repaid, often with interest.
So how will it get paid back?
Probably a hike in taxes, an increase in VAT, or even the notion of bringing the tax levels of the self-employed to the same levels of those on PAYE.
But UKMFG can also help. Now’s our time to look closer to home for all things manufacturing.
This isn’t political rhetoric. Far from it. It’s economical rhetoric. As recently as the late 1970s, manufacturing spoke for as much as 25% of GDP, but fast forward to 2020 and it’s down to just 11%. Our factories are shutting, engineers are retiring, and young people don’t see it as an exciting or glamourous industry to be part of.
But we can change that.
Campaigns like Made in The Midland’s Backing Britain, and Support UKMFG are championing everything made on our tiny island, and people are getting behind them.
This is your call to arms manufacturing. When the scale tips back in society’s favour, when we have the freedom to visit our friends, see our relatives, go to the pub and eat out, we’re all going to indulge. So why not indulge in manufacturing?
When you’re back at your desk, out of your pyjamas and finally away from your kids, ready to kickstart the industry; before looking to your global solutions, look nationally.
To get out of this together, we must work together. Working together creates jobs, jobs creates wealth and wealth brings spending. We’re on a knife edge currently now is the time to act. Look local and back Britain. Let’s get manufacturers working again.
You can read the full article and learn more by visiting here