Budget 2011: Government announces 21 enterprise zones
Surpassing expectations, the Government announces 21 enterprise zones, all to be served by super-fast broadband.
Chancellor of the Exchequer George Osborne has announced a total of 21 enterprise zones, not the 10 that were reportedly expected.
Businesses operating within these zones will benefit from 100 per cent discount rates on super-fast broadband, Osborne said during his budget speech today.
The zones will be established in various cities across the UK, including Birmingham, Sheffield, Leeds and Manchester.
London Mayor Boris Johnson will choose where the capital city's zone will be established.
A further 10 locations will be announced in the summer as the Government seeks to boost economic progress in the UK during difficult times.
The enterprise zones will be similar to those introduced by previous Conservative Governments in the 80s and 90s.
They will offer tax breaks and deregulation on top of next-generation broadband to help firms grow.
Osborne said he wanted to make the UK the best place in the world to start a business, which will be music the ears of youthful tech companies looking to set up shop in the country.
He said today's Budget was about reforming the nation's economy so it had "enduring growth and jobs in the future."
"Britain has lost ground in the world's economy and needs to catch up," Osborne told the House of Commons.
"This is a budget built on sound money that will benefit enterprise."
For all the news on today's budget, head here.
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