New figures showing that the number of private sector businesses in the South West has increased by around 98,900 over the past four years. There are now over three quarters of a million more private sector businesses than there were in 2010. We've doubles the annual investment allowance to £500,000 until the end of 2015. Over 99% of businesses will face no upfront tax when they invest in their future. We are also increasing the tax reliefs available to small businesses for research and development.
We are committed to generating a recovery that works for everyone. More businesses mean more jobs, and more jobs mean that more people have the security of a regular pay packet - and can plan for the future with security.