In his mini-Budget, Chancellor Kwasi Kwarteng announced plans for Tax-Free Investment Zones across England.
The Government says these new economic zones will drive growth by lowering taxes and freeing up planning to encourage development and business investment.
What are the benefits?
These zones will offer a number of advantages to the businesses that choose to operate in them, including:
Partnership with local authorities
The scheme will involve agreeing with 38 Upper Tier Local Authorities and Mayoral Combined Authorities in England to develop dozens of Investment Zones.
They will be delivered in partnership with devolved administrations and local partners in Scotland, Wales and Northern Ireland.
The Government says it will set out further detail on Investment Zones in due course. However, a full list of local authorities working with the Government can be found here.
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