Enterprise Zones: Waveney

Opened the debate

The enterprise zones in the Waveney area have been successful, attracting £44 million in private and public sector investment, creating 916 jobs, and facilitating 44 acres of new employment space. However, with the expiry of business rates relief on most sites, there is now a need to reinvigorate these zones. The proposal includes reallocating 7.8 hectares from South Lowestoft industrial estate to areas around the port for clean energy and fishing-related developments, creating over 300 jobs and generating up to £3 million in retained business rates.

Government Response

It is a pleasure to serve under your chairmanship, Mr Dowd, and I thank my hon. Friend the Member for Waveney (Peter Aldous) for securing this important debate. The minister highlighted the success of enterprise zones in Great Yarmouth and Lowestoft, noting that they have created around 1,900 jobs, attracted over 70 businesses, and brought forward £51 million-worth of private sector investment. He also mentioned the freeports programme, which builds on what has been learned from enterprise zones. Felixstowe and Harwich were successful in their bid for a freeport, and this will provide jobs to areas surrounding these locations and attract new businesses and investments. The minister detailed that £290 million has already been invested in local growth projects in and around Waveney through the New Anglia LEP, including funds used for improved flood defences in Lowestoft harbour, the Gull Wing bridge, and town deals for areas like Lowestoft, which received £24.9 million to support ambitious local projects. The minister also discussed REAF, a local initiative focusing on sustainable fishing industry, and highlighted his enthusiasm for developing emerging industrial strengths such as offshore wind and nuclear energy in East Anglia. He acknowledged the Government's commitment to work with Members from across the House to spur long-term recovery from the pandemic.