UK manufacturers urge George Osborne to maintain spending on innovation

Manufacturers' organisation EEF says firms want a stable, predictable business environment

Manufacturers are warning George Osborne that Britain risks squandering years of investment in hi-tech research and business support if he cuts support for innovation at the spending review next week.

Against the backdrop of waning global demand and pressure on UK competitiveness from a strong pound, manufacturers' organisation EEF says its members are worried that Osborne's new round of austerity will add to their uncertain outlook. The chancellor unveils his comprehensive spending review on 25 November when he will set out tighter budgets for government departments.