Budget 2011: Osborne's sop to SMEs

This sop to the business world, announced in today's Budget, includes exempting SMEs from new regulations and the creation of enterprise zones. Osborne, delivering his Budget in a rowdy Commons, said supporting the private sector is central to the country's economic ambitions as he declared "Britain is open for business". The Chancellor announced the small business rate relief holiday is being extended by one year to October 2012. This, he said, will cost of £370m. He also announced a three year moratorium on domestic regulations for small business and start-ups. As well as conf...