Mini Budget 22: Tax cuts and deregulation to benefit new investment zones

Attempt to drive growth

New investment zones will offer businesses tax cuts and reduced regulation in an attempt to drive growth and encourage investment across the UK.

Revealed as part of Chancellor Kwasi Kwarteng's Mini Budget, 38 local authorities are currently in discussion to establish 'investment zones' in England, with plans to expand these across Scotland, Wales and Northern Ireland. Businesses in the designated sites will benefit from a raft of tax incentives, while construction will receive fast track planning applications. Mini Budget 22: Kwarteng cancels corporation tax hike Over the course of ten years, businesses will pay no business rates on newly occupied premises and will pay no National Insurance on the first £50,270 of a new emp...