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Clegg: Osborne's spending cuts plan a 'monumental mistake'

Benefits for young people are to be targeted by the Chancellor as he seeks to cut £25bn from public spending, including £12bn from welfare. But Nick Clegg said it was a "monumental mistake" to make the working-age poor bear the brunt of the cuts.

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Survey: Manufacturers expecting growth in 2014

Manufacturers expect an improved outlook this year which should lead to growth in exports and more investment in jobs, according to a new report.

A fifth of manufacturing firms surveyed said they planned 'significant' investment in 2014 Credit: Joe Giddens/PA Wire

A survey of 200 senior executives by EEF, the manufacturers' organisation and Aldermore Bank found a more positive outlook than the muted picture of a year ago, with growth expected in all markets and across all sectors and sizes of companies.

Two fifths of companies said they plan to invest in the UK, with a further fifth saying their investment would be significant.

EEF chief executive Terry Scuoler said: "Manufacturers are telling us they expect to make a greater contribution to growth, investment and jobs this year".

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