Manufacturers call on Osborne

To boost collapsing industry confidence, EEF, the manufacturers' organisation (formerly the Engineering Employers' Federation), is calling on the coalition to introduce tax cuts and industry incentives such as reforming R&D credits.

In its submission to the Treasury, EEF argues that the Chancellor, George Osborne, must adopt urgent reforms in his Autumn Statement to bring about stronger, more balanced growth. Terry Scuoler, EEF's chief executive, says Mr Osborne must cut taxes and employment regulation, improve competition in the banking sector, boost access to alternative forms of finance and reduce the costs of introducing climate change measures which are hitting industry already paying big energy bills. The EEF also wants to see more done to help companies expand their apprenticeship schemes and more specialists to teach science, maths and technology in schools.