Highlights that impact on business:
* Growth in 2001 was 2.2 per cent; forecast for 2002 is between 2 and 2.5 per cent; 2003, 3 to 3.5 per cent. Inflation target continues at 2.5 per cent.
* Automatic fines from Customs and Excise abolished for late-paying small businesses.
* Measures to help British manufacturers invest in technology - large companies to get a new research and development tax credit.
* New small companies tax rate cut from 20p to 19p with immediate effect and 10p starting rate of corporation tax reduced to zero.
* Capital gains tax reduced to ten per cent for small businesses.
* Small businesses get new flat rate of VAT to cut down on administration. To be extended from next April to almost half VAT-registered firms.
* VAT on bad debts - small companies get an automatic right to relief after six months.
* Pilot training projects allowing staff from small firms time off to gain skills.
* Additional £30m for more small, businesses can get Investors in People status.
* Stamp duty abolished on all commercial and business property in deprived areas.
* Licence fees on cars, vans and lorries frozen.
* Tax on petrol and diesel frozen.
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