Emergency Budget 2010: support for businesses

22 June 2010

The Chancellor addressed the problem that many smaller firms are experiencing when it comes to accessing credit.

The Enterprise Finance Guarantee Scheme is to be extended so that it benefits a further 2,000 firms.

The government is also to set up a large Regional Growth Fund which will offer finance for capital projects in the regions over the next two years, with priority being given to those schemes that have the greatest impact on jobs.

More measures for helping SMEs secure finance are to be announced by the Business Secretary, Vince Cable during the summer.

The tax rules on furnished holiday lettings, which were to be changed, remain in place while the government consults on any reforms.

Some backdated business rates bills will be cancelled, a measure particularly aimed at businesses operating in ports.