Mini Budget 22: Tax cuts to benefit 'investment zones'

Chancellor attempting to drive growth in the economy

James Baxter-Derrington
clock • 1 min read

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. 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 employee's annual salary, provided they work in the site for a...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Five years on from Covid: What's next for markets?

Five years on from Covid: What's next for markets?

It is now five years since the start of the UK’s Covid lockdown. Since then, we have seen considerable market and geopolitical-related change. Here, William Marshall looks back over the past five years and also explores what we might expect from markets...

William Marshall
clock 06 May 2025 • 4 min read
Gilt yields fall after Donald Trump backs down in 'tariff war'

Gilt yields fall after Donald Trump backs down in 'tariff war'

US president pauses most additional tariffs

Jonathan Stapleton
clock 10 April 2025 • 2 min read
Reeves defends yearly Budget to avoid 'constant chopping and changing'

Reeves defends yearly Budget to avoid 'constant chopping and changing'

Treasury Committee scrutinises chancellor on Spring Statement

Isabel Baxter
clock 02 April 2025 • 3 min read