Thread by @CentreforCities

🗣️In this morning’s #MiniBudget, the Chancellor announced the Government’s intentions to establish up to 38 Investment Zones with tax breaks for businesses.

🗨️Read on for an immediate response from Director of Policy and Research @Paul_Swinney.
#InvestmentZones
#GrowthPlan
👇👇

1/ Successful investment zones will need to house high-productivity firms that offer well-paying jobs for skilled workers.

2/ Focusing on cutting regulation and tax cuts in struggling regional economies will make them even cheaper but not necessarily more attractive places to do business.

3/ While we welcome the Government’s commitments to liberalising the planning process and giving metro mayors more control over their finances, we’ll need to see more on what will be done to make these policies effective.

4/ Whitehall needs to go beyond deregulation and develop a clear overarching strategy that ensures the zones are located in cities that already have great potential for growth, while delivering targeted investments in these areas to increase housing & improve public transport.

5/ For deeper analysis, have a read of @Paul_Swinney 's recent blog on why Investment Zones could have a positive impact if they deal with growth barriers in big cities.
centreforcities.org/blog/how-to-ma…