Chancellor unveils plan to boost investment in deprived areas

The Treasury has approved a proposal by the Social Investment Task Force to generate £1bn of revenue for some of Britain's most deprived areas through a new community investment scheme. The new investment and tax break system will be of benefit to some of the country's most disadvantaged communities through the help of private investors. The plans originally announced at the start of this month by the Treasury were mentioned during Gordon Brown's budget speech on Wednesday. Regeneration in poor areas would be made possible through a tax credit to the value of 25% of an investment ove...