Local businesses stand to benefit from this year’s budget according to Alan Campbell MP.

The budget announced new measures to boost enterprise and skills.

It includes new proposals to help small firms raise the finance they need to start up, develop and grow.

Red tape will be reduced and tax will be simplified for small businesses and there will be tax incentives to boost research and development and investment in IT by small companies.

There will also be £16 million to fund Enterprise Advisors to work alongside head teachers in deprived schools and give pupils experience of business.

Alan Campbell said

"There’s a need to develop new businesses here in Tynemouth. I believe these changes will be welcomed by businesses and deliver greater economic prosperity."