Universities in the UK’s “left-behind areas” glimpsed a potential surprise bonus as they were billed as central to radically reshaped investment zones, echoing recent US policy moves – but there is some uncertainty about the Westminster government’s new focus.
Liz Truss, in her fleeting time as prime minister, wanted to create up to 200 low-tax, deregulated investment zones to drive private sector growth.
But following concerns over costs, Jeremy Hunt, the chancellor, said there would be a “change of approach” on investment zones when he delivered spending cuts and tax rises in his autumn statement. The zones would now focus on “leveraging our research strengths by being centred on universities in left-behind areas to help build clusters for our new growth industries”, he explained.
