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
Big Brother contestant Sam Giffen has sparked a backlash after hurling a homophobic slur at two gay housemates.
Stephen Beadman has been jailed for life with a minimum term of 35 years for the rape, false imprisonment and murder of the teenager.
The downpours will be more well scattered across southern locations.