Budget 2011: Cities’ entrepreneurs receive helping hand
Government changes to planning and tax rules look set to benefit Manchester and Liverpool, says Michael Wood.
The Chancellor unveiled plans this week to create 21 "Enterprise Zones" to encourage the growth of new businesses across the UK.
Liverpool and Manchester were named as two of the first 10 enterprise zones which will offer discounts on business rates worth £275,000 over 5 years as well as "radically" reduced planning restrictions to firms moving into the area over the course of this parliament.
The government will also support superfast broadband for the new zones and are considering enhanced capital allowances for plant and machinery.
As the public spending cuts begin to bite, initiatives such as these will go some way to helping re-balance our major regional economies - a process, to be fair, which has been underway for many years (and probably has many years left to run).
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