New tax breaks for investors in small firms, a small company risk capital fund and an extended business rates holiday are reportedly among the measures to be announced by the Chancellor in his Autumn Statement this afternoon. Reports this morning say that among the proposals are a Seed Enterprise Investment Scheme, which the Daily Telegraph says will let individuals investing up to £100k in new companies receive income tax relief of up to 50% on the money they invested. Profits made in year-one will also be exempt from capital gains tax. Sky News reports that the existing business rate relief holiday will be extended by six month to April 2013. The broadcaster also says that a new £50m fund for small business risk capital will be targeted at companies setting up in areas hit hardest by public sector spending cuts. As reported at the weekend, Chancellor George Osborne is expected to announce that the Exchequer will underwrite at least £20bn worth of loans made by high street banks to small and medium firms. Osborne will also announce updated forecasts on the UK’s growth from the Office for Budget Responsibility, which is expected to show that the economy has grown slower than earlier predicted. Osborne is due to make his Autumn Statement to Parliament at 12.30pm.