Osborne hails 'pro-growth' Budget

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  • xman
    Admin
    • Sep 2006
    • 24007

    Osborne hails 'pro-growth' Budget

    4 March 2011 Last updated at 17:00 ET The Budget later this month will be "unashamedly pro-growth", Chancellor George Osborne will tell his party's spring conference on Saturday.

    He will tell Conservatives in Cardiff it will break down the barriers that stop Britain getting back on its feet.

    Mr Osborne will announce that 10 new enterprise zones will be set up in England as part of a growth strategy.

    He will also say that the Budget on 23 March, the government's second, will confront the forces of stagnation.

    The chancellor will tell party members that new enterprise zones will be established in areas of England that have been hit hard by the economic downturn - mainly in parts of the Midlands and the North.

    Firms will be offered reduced business rates, simplified planning rules and less regulation at a total cost to the Treasury of £100m over the next four years.

    Earlier enterprise zones set up by the governments of Margaret Thatcher and John Major have been criticised by two reports this week for creating too few jobs at too high a cost, and for providing only a short-term boost.

    But ministers claim to have learned lessons from the past, and say they will work in areas with high potential for growth, while working closely with local councils to tailor specific incentives to local needs.





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