Gov't creates new enterprise zones
New pubs and bars in parts of Leicestershire, Oxfordshire, Essex and Kent are set to have lower business rates and fewer restrictions on planning control, after the areas were given enterprise zone status.
The full list of 11 areas includes parts of Warrington, Cornwall, Gosport, Hereford, Northampton, Norfolk and Suffolk, bringing the number of enterprise zones to 21.
Eligible firms opening in the new designated zones will receive a business rates discount of up to £275,000 set over five years. The income from the rates will be shared and retained by each local area for at least 25 years.
Local authorities could also grant automatic planning permission, and businesses will be entitled to super-fast broadband.
At the Budget, the Government announced 11 enterprise zones in cities including Manchester, Birmingham, Merseyside and Newcastle, as well as inviting applications for 10 more in other areas.
"We are determined to do everything we can to make Britain the best place in the world to start and grow a business," said Prime Minister David Cameron.
"Enterprise zones are a major step towards delivering this; cutting business taxes, easing planning restrictions and giving businesses the tools they need to invest and expand. These new enterprise zones will be trail-blazers for growth, jobs and prosperity throughout the country."
British Property Federation chief executive Liz Peace welcomed the announcement, but added: "The incentives on offer, while welcome, may not be sufficient to get development going in many cases.
Enterprise zones may be helpful in putting a focus on areas, but ultimately development will only happen if the incentives are sufficient.
"That said, we welcome the indication that the Government views this policy as an evolving one and that the incentives currently on offer may be a starting point, rather than the end of the story. In particular, it will be essential to devise flex-ible sets of incentives that can be tailored to the different needs and contexts of different enterprise zones."
