LARGE chunks of East Lancashire are to be exempt from Stamp Duty on properties worth less than £150,000 from Friday.

Chancellor Gordon Brown announced the major concession in his Pre-Budget Report.

A total of 2,000 deprived wards in the "slowest growing and highest unemployment areas of Britain'' are to get the relief. In the Budget, Mr Brown hops to legislate to take more business property transaction in the wards out of stamp duty.

Areas in Blackburn-with-Darwen, Burnley, Chorley, Hyndburn, Pendle, Rossendale and South Ribble will all benefit, hopefully, boosting the sluggish housing market.

In Blackburn-with-Darwen the wards affected are Audley, Shadsworth, Higher Croft, Wensley Fold, Shear Brow, Queen's Park, Bastwell, Little Harwood with Whitebirk, Mill Hill, Sudell, Meadowhead, and Corporation Park.

Burnley wards to benefit are Daneshouse, Bank Hall, Barclay, Trinity, Fulledge, Brunshaw, and Coal Clough with Deerplay. In Hyndburn, they are Central, Church, Spring Hill and Barnfield.

In Pendle, they are Whitefield, Bradley, Waterside, Walverden, Southfield, Brierfield, Marsden, and Vivary Bridge.

Rossendale's Worsley, Greensclough, Stacksteads, and Longholme are included.

Chorley East ward and Seven Stars ward in South Ribble also qualify. Ribble Valley is not included as it is considered too prosperous.

Pendle MP Gordon Prentice welcome the move, saying: "This will affect the overwhelming majority of homes in these wards, many of which sell for a fraction of £150,000. I and the Chancellor are very concerned about this issue.

"If it kick-starts the housing market in areas whereit has all but collapsed or selling conditions are very difficult, it will be a major boost to prosperity.

"We need to return to a normal housing market in these areas, where people can buy and sell and we do not have homes standing empty for years.''

Rossendale and Darwen MP Janet Anderson, said: "This is very good news. It should help boost both business and the housing market in my constituency."