The Chancellor George Osborne laid out his vision for growth, jobs and prosperity in today’s Budget.

Describing this as the “march of the makers”, he identified manufacturing, science and green energy as key growth sectors.

“Private sector growth must take the place of public sector deficit,” he said.

Measures announced include:

• the creation of 21 new enterprise zones with a strong emphasis on manufacturing areas of the UK
• a commitment to funding for 24 new technical colleges, providing 11-19-year-olds with vocational training with the curriculum now being developed by universities and employers
• new export credits for small businesses
• launching Britain’s first technology and innovation centre for high value manufacturing
• funding for further nine new university centres for innovative manufacturing
• £100m to invest in new science facilities
• from April the small companies research and development tax credit will increase to 200% and from next year will rise to 225%
• creating a green investment bank and a commitment to invest £2bn into the bank
• a consultation on merging national insurance and income tax
• reducing corporation tax by 2% to 23%
• a moratorium from April exempting all businesses employing fewer than 10 people and all genuine start-ups from new domestic regulations for the next three years
• 250,000 apprenticeships created over the next four years
• streamlining cumbersome planning laws, which the Chancellor said hampered job creation

The Chancellor said: “We will only be able to raise the living standards of families if we have an economy that can compete in the modern age. This is our plan for growth.

“We want the words ‘made in Britain’, ‘created in Britain’, ‘invented in Britain’ to drive our nation forward — a Britain carried along by the march of the makers. That is how we will bring jobs and support families.”