London to create low tax zone to boost investment

A maximum of 12 sectors will receive this special status, which will allow them to attract investments due to lower taxation. According to estimates of today’s leading British newspapers, it is a package that will see above all the abandonment of an increase in national social security contributions, in fact by expanding the favorable tax regime beyond the free ports established after the United Kingdom’s exit. . European Union, by the government of Boris Johnson.

Quarteng’s announcement (whose tangible tax effects are expected to cost the exchequer, according to critics, at least £30 billion a year) should serve to show that the government will keep the promises made during Liz Truss’s campaign. Completing quickly. For the conservative leadership, when it said investment sectors would be at the heart of its plan to stimulate growth.

The West Midlands, the Thames estuary, the Tees Valley, West Yorkshire and Norfolk may be the areas where new “special” zones should be created. As per the strategy of the truss, each zone will have a central zone, where urban planning rules and regulations will be loosened in favor of industrial, commercial and residential development, and a suburb where urban planning rules for housing will be streamlined.
The Treasury, for its part, is considering whether, in addition to offering lower taxes for businesses that operate in the areas, it can guarantee lower personal taxes for those who live or work there. We do.
Politics likely to focus primarily on EnglandHowever the Truss also wants to work with developed governments to create investment zones in Scotland, Wales and Northern Ireland.