The Welsh Government said it is progressing talks with the UK Government over creating a new low tax investment zone in Wales.
In his Budget Chancellor Jeremy Hunt will confirm that 12 investment zones - each receiving funding of £80m over five years and nearly £1bn in total - will be established aimed at boosting innovation and greater collaboration between the worlds of academia and business.
The zones were first promised under the short-lived and economically disastrous reign of Liz Truss as Prime Minister. She was pressing for up to 200 zones across the UK - although the cost of reducing the tax burden on firms in that number of zones would have been eye-watering for the Treasury at an estimated £12bn.
