- 2 updates
Chancellor George Osborne has today said that he's going to give businesses tax breaks to set up in the Midlands. He believes the UK economy is too focused on the south.
He was in Birmingham's Jewellery Quarter this morning, where he looked around the Assay office – the firm behind the hallmark on gold and silver.
Assay will be moving to a new site in an Enterprise Zone – an area of the city where firms will receive benefits.
The Chancellor has side-stepped questions over scrapping a fuel duty increase in the budget.
On a visit to Birmingham he said petrol was already 10p cheaper now because of action the government has taken.
He was in Birmingham to launch an Enterprise Zones – areas around the country that support both new and expanding businesses by offering incentives.
The Chancellor said for too long the UK relied on London to generate growth in the country.
The government now wants to help regions grow, which is why it's giving tax breaks for firms to set up in cities like Birmingham.