Spring Budget Investment Zones

Friday 14 April 2023

 

Why you need to take note of the 12 investment zones…

The Prime Minister’s objective is to grow the economy and level up across the UK.

A devolution package and funding for community projects will help further the governments ambitions to spread opportunities more equally - delivering more jobs, better services and more opportunities for local people.

Property investors need to take note of these key areas, as significant investment can often mean an increase in house prices & rental demand.

12 Investment Zones have been identified across the UK, each backed with £80 million over five years including generous tax incentives. Investment Zones will be based around research institutions such as universities and will be focused on driving growth in one of the UK’s key sectors.

Eight places in England have been shortlisted for these 12 zones to develop proposals in collaboration with the UK Government. These include:

• East Midlands
• Greater Manchester
• Liverpool
• North East
• South Yorkshire
• Tees Valley
• West Midlands
• West Yorkshire

Local government and research institutions will be able to tailor their Investment Zone plan to their local circumstances.

Hunt said 70% of growth in salaried jobs has so far come out of London and the south-east. “Liverpool docks and Canary Wharf transformed the lives of thousands of people,” he said” and the “12 new investment zones” aim to be “12 new Canary Wharfs.”

Hunt highlighted the four pillars of the government’s industrial strategy: enterprise, employment, education and everywhere.

Thinking of investing but don’t know where? Consider look at the key 8 areas in England mentioned above.