, fast-track housing plans and drive the Government’s levelling up agenda.
Chosen areas would be given favourable tax and planning treatment, such as a 100 per cent tax relief on investment in new plant and machinery in the first year, a 100 per cent business rates relief on new premises and a holiday on employers’ national insurance contributions for employees earning less than £50,270 a year.
Ms Truss is aiming to roll out the proposed zones across England, with hopes to eventually expand to the rest of the UK., with No 10 stating the figure will be decided once local authorities and mayoral authorities have had a chance to submit an application. Initially the Goverment said 38 areas had expressed an interest in the zones,but councils have now been asked to make an application by 14 October, which could lead to more authorities getting on board.The Treasury is understood to have raised concerns about the cost of the plans and suggested a limit of about 40 should be set on the number of applications for the investment zones.Concerns have also been raised that the tax breaks could last for 10 years.
But Ms Truss has disregarded the concerns and insisted there should not be a limit on the number of zones, according to theSome Tory MPs have also voiced their concerns about the policy and suggested the Government should focus on driving growth across the entire country and not a few areas.
TheStephenRalph emsferg 'Liz Truss?' 'Yes, the Trusser and me we're great mates. She gave me a call recently and offered me a job on her new venture.' 'But I said, Liz, I don't know where to start ...'
emsferg The Tory Party membership who voted for Truss to become Prime Minister were those who would have benefited from her policies. The 99.9% of the actual electorate who will pay for them don't see it that way at all.