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25 March 2020

Mineral Products sector seeking ‘cash bridge’ support and clarity from Government

The Mineral Products Association yesterday wrote to the Chancellor following the initial meeting of its newly formed Taskforce.

MPA letter to the Chancellor

Nigel Jackson has again written to the Chancellor of the Exchequer calling for further measures to support MPA members. Welcoming many of the steps outlined by the Chancellor, he focused on extending the deferment of VAT to Employers National Insurance, Corporation Tax and Business Rates. These are simple measures the Chancellor could take to reduce cash outflow from businesses. In the letter, he wrote:

“What business needs now are fast and simple solutions that enable them to keep cash in their businesses and their employees in their jobs.

“The deferment of VAT is a simple and effective measure and welcome. Further concessions of this nature would increase the resilience of companies and I once again urge you to take further steps by deferring employers’ National Insurance contributions, Corporation Tax and Business Rates over the next 3 months. This would be the best way to retain jobs and sustain companies in these exceptional times whilst we all evaluate the potential impact of the virus on enterprise.

As the largest supplier of any material in the UK economy, at 1 million tonnes per day of essential mineral products, the impacts of Covid 19 will be all the greater on an industry where the fixed costs are very high. Once the recovery starts the pent-up demand will be immense and unless we have protected the capacity and capability of the sector it will inhibit our return to healthy economic growth.”

Ends.

Note to Editors:

About the Mineral Products Association:
The Mineral Products Association (MPA) is the trade association for the aggregates, asphalt, cement, concrete, dimension stone, lime, mortar and silica sand industries. With the affiliation of British Precast, the British Association of Reinforcement (BAR), Eurobitume, MPA Northern Ireland, MPA Scotland and the British Calcium Carbonate Federation, it has a growing membership of 530 companies and is the sectoral voice for mineral products. MPA membership is made up of the vast majority of independent SME quarrying companies throughout the UK, as well as the 9 major international and global companies. It covers 100% of UK cement production, 90% of GB aggregates production, 95% of asphalt and over 70% of ready-mixed concrete and precast concrete production. In 2016, the industry supplied £18 billion worth of materials and services to the Economy. It is also the largest supplier to the construction industry, which had annual output valued at £169 billion in 2018. Industry production represents the largest materials flow in the UK economy and is also one of the largest manufacturing sectors. For more information visit: www.mineralproducts.org

For further information, please contact Robert McIlveen, Director of Public Affairs at robert.mcilveen@mineralproducts.org; tel: 07394 568782.

 

   
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