Nottinghamshire's County Council's leader says plans for new 'investment zones' in the East Midlands are a 'really exciting opportunity' to bring more well-paid jobs to the area. The Government says that Chancellor Jeremy Hunt will be announcing the creation of 12 investment zones across the UK in his budget on Wednesday (March 15).
Investment zones are specific geographic areas that have their own tax and regulatory rules to try and boost economic growth. These special rules could include looser planning regulations, lower business rates and lower stamp duty.
The Chancellor will say in his budget that eight areas have now been shortlisted to host the 12 investment zones, including the East Midlands. Specific locations are yet to be decided, but each investment zone will be backed with £80 million of funding over five years.
