Bloomberg Tax
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Tax
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

Britain Ramping Up Low-Tax Zones In Truss’s Growth Push (1)

Sept. 25, 2022, 4:25 PM

The British government’s £220 billion blueprint for juicing a stagnant economy includes creating “investment zones” around the nation where companies can take advantage of sweeping tax breaks and pared-down planning regulations.

While releasing details of his mini-budget Friday, Chancellor of the Exchequer Kwasi Kwarteng said the designated areas will be granted “an unprecedented set of tax incentives for business to invest, to build and to create jobs right across the country.” The government has identified 24 potential sites, including airports, docks, a gigafactory and an area of Stoke-on-Trent dedicated to the ceramics industry.

The playbook is familiar. London’s Canary Wharf, ...