The Chancellor has resurrected Liz Truss's idea of investment zones to encourage regional growth
In his speech, the Chancellor claimed investment zones would create “mini Canary Wharfs” across the UK with businesses and universities collaborating to create highly skilled jobs with a research or technological focus.
MPs and business groups warned Mr Hunt that promises to use Brexit to boost the economy must be matched by Government action. CitingMr Hunt’s “four Es” to boost the economy – enterprise, education, employment and everywhere – she added: “The Chancellor himself said today’s speech was ‘not a series of measures or announcements’. We would therefore add a fifth E – for ‘Empty’ – to his 4 Es economic framework. Business needs Government action to counteract the negative mood.”
For Labour, shadow Chancellor Rachel Reeves said: “Thirteen years of Tory economic failure have left living standards and growth on the floor, crashed our economy and driven up mortgages and bills. The Tories have no plan for now, and no plan for the future.”
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