Budget: Low-tax ‘investment zones’ to be rolled out across UK
Hunt to announce approximately £1 bn support for investment zones across the UK , in order to boost growth in key sectors. Each zone will receive £80mln of public support over five years, alongside gaining tax incentives such as lower business rates or employer national insurance, according to Financial Times sources. The aim is to upskill workers and provide specialist support for businesses, many of which have called for further public funding in recent months. Hunt’s scheme will partially bring the plan to life, operating alongside ‘freeports’ at twelve UK airports and harbours, aimed at boosting similar growth.
Will we see mass improvement in the new regions and sites?