Chancellor George Osborne surprised the City today in his Autumn Statement by scrapping the stamp duty on Exchange Traded Funds - among a raft of measures to boost business and investment.
The 0.5% duty on ETFs will be scrapped from April in a move Mr Osborne hopes will encourage more ETF providers to relocate their funds to London.
Mr Osborne said: "The Budget announcement that we would abolish stamp duty on AIM shares was applauded around the world. 
Today, we also abolish stamp duty for shares purchased in exchange traded funds to encourage those funds to locate in the UK.
"We're making our successful film tax relief even more generous, and look to extend the principle, including to regional theatre.
We set out major reforms to encourage employee ownership of the kind that makes John Lewis such a success."
Mr Osborne also revealed that from April, "we will be one of the first countries in the world to introduce a new tax relief for investment in social enterprises and new social impact bonds."
This move could open up a new asset class and details are being pored over by investment experts.
In other investment related moves, the Isa allowance will be increased from £11,520 to £11,880 from April. However, disappointingly calls to allow CTFs to be transferred to Junior Isa did not appear to have be heeded and suggestions that peer-to-peer lending would be included in Isas were not mentioned by the Chancellor.
{desktop}{/desktop}{mobile}{/mobile}
In other key points: 
• GDP Growth forecasts for this year have been increased from 0.6% to 1.4% for this year and revised up from 1.8% to 2.4% for next year and for the following four years to 2.2%, 2.6%, 2.7% and 2.7%.
• Revised figures from the ONS reveal that GDP slumped by 7.2% in 2008-09, not the 6.3% as previously thought - a drop the Chancellor called "staggering" and underyling the depth of the recession.
• The UK's "underlying deficit" has been revised down to 6.8% this year and 5.6% next year.
• The State pension age will increase to 68 in the mid-2030s and to 69 in the late 2040s. Next April 2014, the state pension will go up to £2.95 a week and overall welfare spending will be capped although state pensions will be ring-fenced.
There will be a number of measures to clamp down on tax evasion and HMRC will not be affected by Government spending cuts.
• From April 2015, capital gains tax will be levied on gains made by non-resident individuals who sell residential property in the UK
• From 1 January 2014, the rate of the bank levy will rise to 0.156%, raising £2.7bn in 2014-15 
To help families the Chancellor confirmed he would increase the personal income tax allowance to £10,000 from April 2014. It will then increase by the Consumer Prices Index (CPI) in future years, starting from 2015.
For married couples and civil partners the transferability of tax allowances will start in April 2015.
There will be some help for small businesses with business rate increases in England and Wales capped at 2% and employer's National Insurance will be axed for employees under 21 from 2015 to encourage employment of young people.
• Check @fpm_online for our live Tweets made during the speech