Budget 2012: enterprise zone investors to get extra support

Businesses that invest in enterprise zones at London's Royal Docks, three sites in Scotland and Deeside in north Wales will be given extra support as a result of Wednesday's budget. The chancellor announced that there would be enhanced capital allowances – allowing firms to write off more investments against tax – in five of the 21 zones, including Irvine, Nigg and Dundee in Scotland, were announced in the budget. The plan, which will cost £20m next year, should create 7,500 jobs in London, and up to 9,000 in the other zones, which are the focus of regional regeneration. They allow business rates to be retained locally to boost economic growth and job creation.