The Annual Investment Allowance for businesses has been doubled to £500,000, George Osborne has announced.
Mark Evans, Tax Partner at independent chartered accountants Baker Tilly, says: "This is great news for businesses and means any spending up to that amount on capital plant or machinery can receive tax relief of 100%.
"Obviously George Osborne has been persuaded to change his mind as it was pre-announced that this allowance would fall from £250,000 to £25,000."
The Chancellor now says 99.8% of businesses will get the benefit of this measure.
More top news
The brother of a taxi driver killed alongside the Afghan Taliban leader has asked police to investigate his sibling's death.
The girl's injuries are not thought to be life-threatening.
A dry night ahead, with any showers fading away.