Commenting on today's announcement, EEF Chief Economist, Steve Radley, said:
"Manufacturers are always keen to see efforts to cut waste in government spending and reduce the tax burden. But today their priority is not spending totals two years ahead but surviving the most severe economic downturn for at least two decades. Right now they are looking for urgent action to prevent the economy lapsing into a severe recession, stave off large scale redundancies and avoid many well-run businesses going under."