‘Perfect storm’ for UK manufacturers as costs, credit and cash crunch looms

Sector faces unprecedented combination' of rapidly rising costs, supply chain woes and high debts from the pandemic

Britain's manufacturers are facing a perfect storm" crisis of rapidly rising costs and towering debts that many fear could push them over the brink, according to a new survey.

The leading industry trade body on Monday urged the government to introduce payment holidays on loans, warning that thousands of firms faced a tipping point" that could make their business models unviable.