Business backing for George Osborne's spending cuts - papers

The bosses of Marks and Spencer, BT and GlaxoSmithKline are among those to have signed a letter to the Daily Telegraph, writes the BBC. They write it would be a "mistake" for Chancellor George Osborne to water down his programme for reducing the budget deficit. Mr Osborne will announce details of the Spending Review on Wednesday. The bosses wrote in their letter to the Telegraph there was no reason to believe Mr Osborne's approach would undermine any recovery. Read more George Osborne to make banks pay tax The Chancellor has stepped up the pressure on banks by pledging to forc...