Plans for new enterprise zones

Plans for new enterprise zones

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George Osborne has set out plans for creating 'enterprise zones' across Britain

Chancellor George Osborne has revealed plans to establish new “enterprise zones”.

The Government is aiming to invest at least £100 million in the scheme – which aims to target poorer areas in the north of England and the Midlands.

It will work by cutting taxes and making the planning process easier in small areas to try and attract businesses and create jobs and harks back to previous Tory Government’s policies.

Between 1981 and 1996, 38 enterprise zones were established under Margaret Thatcher and John Major.

Speaking at the Welsh Conservatives’ spring conference in Cardiff, he said: “We cannot place all our bets on the City Of London. Wouldn’t it be great if Britain made things again?

“What I want to see is a manufacturing revival.

“In the budget in less than three weeks’ time, we will confront the forces of stagnation that stand in the way of success, bring down new barriers that stop Britain getting back on its feet.

“The Budget is going to be unashamedly pro-growth, pro-enterprise and pro-aspiration. It will look at the planning delays, the new regulations, the bureaucracy and the costs that hold business back and stop jobs being created.

“Not just in London, or the South East, but across Britain.”

Mr Osborne said the new enterprise zones would be centres for new businesses where “taxes will be even lower” and restrictions on growth removed.

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