Ricardo is a leading engineering technology provider undertaking research, design and development services to the world's automotive manufacturers.

The business employs more than 1,400 and has subsidiaries in the US, Germany and Eastern Europe.

Andrew Goodburn, Ricardo's financial director, wants lower tax on car purchases based on emissions, to encourage sales of environmentally-friendly vehicles.

He said Ricardo's reliance on its people, who include some of the best engineers in the world, meant the business would welcome any measure that improve the educational standards of young people.

He said: "I would like to see changes to the enhanced research and development tax credit system, as Ricardo - which spends £5 million a year on research - currently cannot take advantage of the 150 per cent allowance.

"The Chancellor changed the dividend tax credit system, a situation that is affecting the UK's pension funds, resulting in many of them being under-funded. A reversal of this policy would be welcomed."

Mr Coward said: "A U-turn on reclaiming tax on dividends is highly unlikely although the Chancellor may well seek to introduce other measures to safeguard beleaguered pension funds.

"The environment, education and R&D are all topics that have been firmly on the Government agenda. Although, it remains to be seen whether the nature of any announcements in these areas will measure up to Ricardo's requirements."