Commenting on today’s Budget announcement, David Nicklin, managing director at Nicklin Transit Packaging, says:
“It was encouraging to see so much focus on mitigating the impacts of Coronavirus. We are already seeing effects across the manufacturing supply chain both regionally and nationally, and SME manufacturing businesses like ours will face multiple challenges around personnel, reduced demand and client service over the coming weeks. We are encouraged by the availability of a new SME funding scheme and the cut in interest rates. Changes to statutory sick pay will also give comfort to staff and business owners alike, with as many as one in five workers potentially needing to self isolate. Not all firms will need to take advantage of the announced business interruption loan scheme but this will undoubtedly go some way to helping the most vulnerable ride out the storm.
“Looking beyond Coronavirus, the announcements on R&D investment are welcome in the context of Brexit as UK manufacturers look to develop fresh capabilities and forge new partnerships. Finally, sustainable packaging manufacturers like us will also have been heartened to see measures announced to encourage greater use of recycled and recyclable, greener packaging, as the UK takes further steps to honour its environment commitments.”