EEF comment on Chancellor of the Exchequer's £4.5bn in-year savings

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Commenting on the Chancellor of the Exchequer’s announcement of 4.5bn of in-year savings, Paul Raynes, Director of Policy at EEF, the manufacturers’ organisation, said:

“It is vital that the government should balance the books and cuts are hugely preferable to tax rises as a way to do that. It is equally vital that we improve the productivity of the country and invest in growth. Across-the-board cuts might look like fair pain for all, but the government should really take a more targeted approach and protect investment in science, innovation and skills, which improve productivity, relative to public service budgets which don’t.”

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