Chancellor announces Â£2.5bn package for business
by Annie Byrne
Chancellor Alistair Darling has announced a one-off £2.5bn growth package to help fund small businesses and infrastructure. Presenting the Budget 2010, the Chancellor said the package would be funded in part by a tax on bankers' bonuses. Business rates would be cut for one year from October, should Labour be elected, Darling promised. The tax reduction for small businesses could affect 60,000 offices, analysts predict. New figures released by the government show the economy contracted six per cent during the recession, with growth now predicted at 1-1.25 per cent in 2010.