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Low-tax ‘investment zones’ will do little to boost economy, campaigners warn
Chancellor of the Exchequer Kwasi Kwarteng leaves 11 Downing Street to make his way to the Treasury Department to deliver his mini-budget. Picture date: Friday September 23, 2022.
TORY tax giveaways to big business and the relaxing of planning regulations in new “investment zones” will do little to boost the economy, tax campaigners warned today.
According to Chancellor Kwasi Kwarteng’s mini-budget on Friday, stamp duty for businesses and residential projects in these zones would be scrapped entirely and employment tax slashed.
The government said it is in discussions with almost 40 local authorities in England about rolling out the zones, which have been dubbed “full fat freeports” by critics.
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