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Chancellor George Osborne to create £100m 'enterprise zones'
worldtraveller
Posts: 14,013 Forumite
The Government is to allocate £100m in the Budget to create a series of "enterprise zones" designed to become economic hotbeds that will lead Britain back to growth.
George Osborne and Vince Cable plan to use the zones to target Government money and support more specifically across the country.
However, the Chancellor - who will unveil the Budget on March 23 - and the Business Secretary have come under fire for failing to produce a clear growth strategy to counter the Government's deficit reduction plans and spending cuts.
The enterprise zones - of which there are expected to be 10 to start with - will be given individual tax breaks and other incentives aimed at addressing the needs of the industries and economies within them.
The zones, which have been compared with a similar scheme launched by Margaret Thatcher in the 1980s, are also expected to offer businesses simplified planning rules, discounted business rates and superfast broadband.
The scheme will allow local authorities to retain the business rates within the new zones, which they can then reinvest in the area.
Telegraph.co.uk
I seem to remember that many, if not most of the companies that took advantage of these schemes in the past were inefficient anyway and as soon as the subsidies had stopped they failed. I used to sell to a company in one of the old enterprise zones and they were raking in the benefits for some time and then wen't belly up soon after it stopped. Jobs were also often simply 'taken' from other areas that didn't have the subsidies, so there was little net increase in employment.
George Osborne and Vince Cable plan to use the zones to target Government money and support more specifically across the country.
However, the Chancellor - who will unveil the Budget on March 23 - and the Business Secretary have come under fire for failing to produce a clear growth strategy to counter the Government's deficit reduction plans and spending cuts.
The enterprise zones - of which there are expected to be 10 to start with - will be given individual tax breaks and other incentives aimed at addressing the needs of the industries and economies within them.
The zones, which have been compared with a similar scheme launched by Margaret Thatcher in the 1980s, are also expected to offer businesses simplified planning rules, discounted business rates and superfast broadband.
The scheme will allow local authorities to retain the business rates within the new zones, which they can then reinvest in the area.
Telegraph.co.uk
I seem to remember that many, if not most of the companies that took advantage of these schemes in the past were inefficient anyway and as soon as the subsidies had stopped they failed. I used to sell to a company in one of the old enterprise zones and they were raking in the benefits for some time and then wen't belly up soon after it stopped. Jobs were also often simply 'taken' from other areas that didn't have the subsidies, so there was little net increase in employment.
There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...
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Comments
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Why stop at just 10 enterprise zones ? Ans because George would have to take shoes and socks off to illustrate any more.
J_B.
An enterprise zone in every home !0 -
I shall be bidding for handouts on opening a sports car factory in Belfast, so I will.
It'll be "green" using batteries, of course, but the really, really big feature is gull-wing doors!0 -
amcluesent wrote: »I shall be bidding for handouts on opening a sports car factory in Belfast, so I will.
It'll be "green" using batteries, of course, but the really, really big feature is gull-wing doors!
Not to be 'sniffed' at so I've heard!0
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