Budget quotes

The budget has done nothing to resolve interest rates. We can’t get the pound down if interest rates stay where they are.’

Keith Bailey, chairman, BSA Tools & president of West Midlands EEF.

‘The Chancellor has listened to the points that we have been making regarding the need to help our hard-pressed companies.’

Peter Hughes, chief executive of lobbying body Scottish Engineering, which represents about 360 firms.

‘We give a broad welcome to the Budget package. We believe the fiscal balance is correct given the healthy state of public finances though assumptions may be optimistic.’

Iain McMillan, director of CBI Scotland.

‘There is nothing in there to kick start manufacturing.’

Glyn Ridley, managing director, Cardinal Broach, machine tool manufacturer.

‘A good PR exercise for Gordon Brown and the Government, but lacking in substance for wealth creation and the long term.’

Mike Legg, president, Machine Tool Technologies Association

On R&D:

‘Filling in forms is what stops me researching.’

Bruce Postlethwaite, Process Cybernetics.

‘It’s now time for people to start thinking seriously about increasing spending on R&D.’

Professor Gordon Edge, executive director, Generics Group.

On fuel tax:

‘The Chancellor’s budget has done exactly the opposite of what industry has asked for.’

The Freight Transport Association.

On energy tax:

‘Premature and a bitter blow for Britain’s leading manufacturing exporters’

Judith Hackitt, business and environment director at the Chemical Industries Association.

‘The energy tax remains a blunt instrument, and is unlikely to be as effective as the Chancellor hopes.’

CBI Scotland