Building a Better Future: How the Government's 'Levelling-Up' Plan is Driving Prosperity

Published 20th July 2023

Investment Zones is a ‘levelling-up’ plan announced by the Government in September 2022 and in the Spring Budget, Chancellor Jeremy Hunt identified 12 areas within the UK split across England, Wales, Scotland, and Northern Ireland. The purpose of the scheme is:

The program intends to support these zones in driving business investment through relief and tax incentives:

In order to be eligible, the zones are required to choose a location where a partnership can be formed between the local government and a research institute or University that infuses innovation.

Once successful, the Government grants the ‘zone’ access to £80 million in support to implement development acceleration by targeting five key sectors:

 In addition, the funds can be utilized to attract investment and growth in:

The scheme is set to roll out over the next two years. 

At Pierce, we have a team of experts should you require any advice in relation to tax, Research and Development, or Business Startups. Contact us today on 01254 688100.

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