Writing in today's Times, Gordon Brown proposes specific rewards for entrepreneurs and inventors in the honours system.

In an attempt to create a "British enterprise revolution", the chancellor promises measures to persuade students to go into business careers and to cut costs for small firms.

Brown also defends the level of tax on business by pointing out cuts already made in capital gains tax and corporation tax.

He says that potential investors should be "in no doubt" about his aim to make Britain's investment incentives and rewards "rival the best in the industrialised world".