Commons Sense

House of Commons · Ministers' Questions

Investment Zones

Tuesday 19 December 2023 · 2 questions

Summarised by AI from the official record, so it can contain mistakes.

Read the full transcript on Parliament.uk

At a glance

Answered 2 Partly answered 0 Not answered 0

Key points

  • Government have announced seven of the eight English investment zones since the spring Budget.
  • Government confirmed four places eligible to host investment zones in Scotland and Wales.
  • East Midlands investment zone will bring significant benefits across the region in advanced manufacturing and green industry sectors.

Topics (select to filter)

Questions & Answers

Q1 Nigel Mills Con
Business & Trade
Context

The MP is asking about the progress on introducing investment zones.

Question

What progress has been made on the introduction of investment zones?

Answer from Gareth Davies

Since the spring Budget, the Government have announced seven of the eight English investment zones and confirmed the location of four places eligible to host investment zones in Scotland and Wales. The Government are committed to ensuring that funding and tax sites go live in the 2024-25 financial year.

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Q2 Nigel Mills Con
Business & Trade
Context

The MP is asking about the benefits of investment zones, specifically in Nottinghamshire and Derbyshire.

Question

I welcome the investment zone in Nottinghamshire and Derbyshire. Will the Minister confirm that some of the benefits of these zones are not only available in the small number of large sites but are available to any business across the whole zone to apply for?

Answer from Gareth Davies

My hon. Friend is right to recognise the east midlands investment zone, which will bring significant benefits across the region in the advanced manufacturing and green industry sectors. I am pleased to tell him that it started with a £9.3 million anchor investment and, over time, will leverage some £323 million in private investment, supporting 4,000 jobs overall.

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