EEF comment on Chancellor's speech

Commenting on the speech by the Chancellor, Rt Hon George Osborne MP, Terry Scuoler, Chief Executive of EEF, the manufacturers’ organisation, said: “Some of the key ingredients of economic stability, which the Chancellor reiterated today, will be supported by business, in particular the commitment to competitive business taxes and stability in the government’s deficit reduction programme.

"More certainty on infrastructure budgets is also a positive move, and this now needs to be matched by clarity on the projects that will be prioritised for funding.

“The Chancellor made welcome comments about Britain’s entrepreneurial spirit, supporting innovation and exports, and nurturing business start-ups.

"However, companies making long term decisions about investment and growth want to see details about the kind of economy that will be in place as we emerge from the recovery, and not just the difficult decisions being taken along the way.

"We need to see a cross-Government vision and commitment to co-ordinate measures for growth that support investment, innovation, and the creation of skilled jobs.”