STRUGGLING businesses in Salisbury could be in line for a boost under plans announced by chancellor George Osborne in the Autumn Statement.

The plans include incentives for banks to provide funding to small businesses and a review of the business rates to make high street stores more competitive against online competitors.

Mr Osborne has also announced that the treasury is extending the Funding for Lending scheme that had been due to expire at the end next month.

The scheme, which gives banks and building societies access to low-cost credit from the Bank of England, has been partially successful in improving business borrowing.

Small businesses however have still been complaining that they struggle to borrow, and that the amount lent has fallen sharply over the last year. In his latest effort to launch investment Mr Osborne will say that banks will be given £5 cheap credit for every £1 that they lend to smaller firms in the coming year.

Rob Perks, the CEO of Wiltshire Chamber of Commerce, said: “The devil is in the detail. It is difficult at the moment for new businesses without a track record to borrow money so any new measures are helpful.”