Osborne said stamp duty on AIM shares will be abolished from next April, in a move which he said will benefit hundreds of small business in the UK.

He added stamp duty will also be removed from other growth markets. 

“In parts of Europe they are introducing a financial transaction tax. Here in Britain we are getting rid of one,” he said.

In his Autumn Statement in December, Osborne also revealed the government is consulting over allowing direct investment in AIM shares within ISAs, to boost enterprise.

“We are upgrading the ISA limit to £11,520 next year, while also consulting over allowing SME equity markets, such as AIM, to be included in ISAs,” he said.

“This will encourage and help UK small business grow.”