黑洞社区

The chancellor Alistair Darling has promised 拢2bn of equity from a newly created government infrastructure investment bank to help boost public sector spending.

Initially, this will focus on green transport and sustainable energy, and in particular on wind power.

Following a severe winter, local authorities will receive 拢100m to repair roads, while the Highways Agency will receive a further 拢285m to improve the motorway network including hard shoulder running schemes.

Darling said: 鈥淭he government will take forward plans for a high-speed rail line running to the Midlands and on to Scotland. Crossrail, Heathrow and high-speed rail will support 100,000 jobs.鈥�

Elsewhere, the government has vowed to increase the number of contracts going to SMEs by 15% and 拢94bn in new business loans will be available to SMEs from RBS and Lloyds.

SMEs will also see a doubling in tax allowance to 拢100,000 for purchasing plant and machinery.

Darling also promised that government would help all businesses by adhering to a payment time of just five days.

The chancellor also announced that first time buyers would be exempt from stamp duty on properties under 拢250,000, while those buying homes costing more than 拢1m will see a 5% increase for two years.

Stewart Baseley, executive chairman of the Home Builders Federation said: 鈥淭his budget is a huge boost to both home buyers and the house building industry. I am pleased the government has recognised the importance of ensuring that people are able to buy homes.鈥�