Peter Aldous seeks assurances that existing enterprise zones, such as the one in Lowestoft, will benefit from the opportunities announced in the Government’s Growth Plan for the new investment zones.
Peter Aldous (Waveney) (Con)
In the Lowestoft and Great Yarmouth area there is already an enterprise zone that has been very successful, although the land allocated needs to be adjusted to take advantage of the opportunities in offshore energy and a revived fishing industry. Will my right hon. Friend confirm that the existing enterprise zone will benefit from the opportunities that will be provided for the investment zones that he has announced?
Kwasi Kwarteng (The Chancellor of the Exchequer)
The enterprise zones, freeports and new investment zones will all benefit from tax reduction and planning relaxation. Of course, there will come a time when other places will want to become investment zones. This is a huge opportunity for communities up and down the country.