Reported on Wed, 22 Mar 2006

Chancellor Gordon Brown today delivered his record-equalling tenth Budget, which focused heavily on continuing to create an economic climate that helps businesses, small and large.

Mr Brown promised to support the UK's "enterprise culture" and improve competitiveness among businesses.

He said that his new Budget would "further strengthen Britain", with the economy set to grow by 2.5 per cent by the start of the next financial year, representing ten consecutive years of growth.

In what is widely tipped to be the chancellor's last Budget before prime minister Tony Blair hands over the country's reigns to him, Mr Brown emphasised the importance of establishing business links with the emergent economies of India and China.

A new scheme was also announced to enable UK entrepreneurs to attend prestigious business schools in the US to improve their business sense.

A key issue for small and medium-sized enterprises ahead of the Budget was a reduction in the amount of red tape and the chancellor pledged to discuss the matter with the European Council.

Mr Brown also revealed plans to rename the New Deal scheme the New Deal for Skills, with the initiative aimed at reducing the number of low-skilled workers in the UK while at the same time increasing the proportion of highly skilled employees.

With the chancellor claiming that the UK's economy is looking as healthy as ever, small firms could take advantage of renewed optimism in the economic climate by taking out a low-rate business loan.

A business loan could allow small businesses to invest in new areas and benefit from a rising economy.

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