Business, Freight News, Logistics, Rail, Road

FTA calls for COVID-19 funding

[ April 6, 2020   //   ]

The Freight Transport Association has called for a Supply Chain Continuation Fund to be set up, to give help and support to specific areas and sectors hardest hit by the economic slow-down. 

FTA said that while the extension of the Corona Business Interruption Loan Scheme (CBILS) announced businesses need to be able to restructure or defer loan repayments to banks, to keep their finances as robust as possible as they take on the challenges posed by the pandemic as well as rebuilding once the situation returns to normal.  Excessive charges could see business placed under even more stress which could have a knock on effect on an economy weakened by the pressures caused by COVID-19. 

It also called for freight users to be given a track access charge holiday, to enable large loads to be moved swiftly and efficiently across the rail network while passenger transport is significantly reduced. 

FTA said: “As a sector, logistics is always poised to adapt and adjust to new or difficult trading conditions, and over the past few weeks has kept the economy moving thanks to fast thinking and support from government.  While all industry needs the help of government, no other affects every single facet of life in the UK, both commercial and domestic, and we are confident that government will appreciate the need to give further support to keep the country’s vital goods and services moving at such a difficult time.”