Oral Answers to Questions

Andrew Gwynne Excerpts

Monday 17th October 2022 Commons Chamber

[Mr Clarke]

The hon. Lady is right to advocate for flood protection, which is vital. I actually welcome her question, because it is an important chance to reaffirm that investment zones are not in any way about cutting away environmental protection. They are about streamlining planning and making sure that lower taxes are on offer in targeted sites. Overwhelmingly, they will benefit brownfield regeneration projects, which would otherwise take years to unlock. I really hope that reassures her, and we will look at her amendments in detail.

[Andrew Gwynne (Denton and Reddish) (Lab)]

Although this is the current game in town, I will be clearly supporting Greater Manchester’s bid to Government, which includes proposals for the Ashton mosque area in my constituency. However, given that this is still part of the mini-Budget—the only bit that has not been shredded yet—can the Secretary of State outline what the tax advantages to an investment zone will be? Can he clarify to the House that expects there to be not displacement of employment across the city region, but genuine growth?

[Mr Clarke]

Obviously, genuine additionality is the litmus test that we set for this policy, although it is vital to note that I see no harm in ensuring that, in areas where there is real opportunity, we bring good opportunities. On tax advantages, there will be a range of powers available, including on business rates relief, enhanced structures and buildings allowances, enhanced capital allowances and, critically, action on employer national insurance contributions, designed to ensure that there are incentives for new jobs in the zones.