The Chancellor has reversed his plans to increase business tax rates by 5% tomorrow.
Businesses will instead see tax rates rise by 2% from 1 April 2009, with the remaining 3% clawed back over the next two years.
Rate rises are linked to the Retail Prices Index (RPI) measure of inflation, which has now fallen to 0%.
Darling says the move "will provide real and genuine help for businesses in this country".
It will see £600m in tax deferred, with 1.5 million businesses set to benefit.
Darling's decision to raise business rates had been widely criticised for increasing the tax burden on businesses at a time of recession.IFAonline
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