The British Fashion Council (BFC) has called for more government support as data by Oxford Economics predicts the UK Fashion industry will lose 240,000 direct jobs. The data also predicts a further 110,000 indirect jobs to be at risk causing the industry’s total revenues to drop to £88 billion this year, compared to £118 billion in 2019. The New West End company also predicts a £5 billion loss in sales and 50,000 job losses if the government doesn’t take further action.

Hence, the council has laid out seven proposed measures tailored to the needs of fashion businesses. These measures include: government support for brands and retailers to renegotiate expensive leases and help keep retail stores open until footfall starts to recover; access to grants or interest-free loans for small and medium-sized businesses; an embargo placed on payments of tariffs to help restart international trade, and legislation to prevent large retailers from canceling orders or imposing sell-through guarantees on orders, which will help protect smaller businesses with limited cash flow.

The BFC is also demanding funds to enable research into sustainable practices like upcycling or waste management that will help restart the industry in a healthier, more circular way. It also highlights the importance of supporting the local manufacturing and textile industries, with the government building on its commitment to produce 2 billion pieces of personal protective equipment in the UK and further investing in the development of skills, material innovations beyond PPE, and tax-relief schemes that will create the “right trading environment.