What is the Government's assessment of the impact of the decision to support new investment zones in eastern areas on poverty, resilience and economic prosperity in places like Arfon, given that the zones will potentially be given a range of tax reliefs, and the absence of corresponding provision in the west and the valleys?
The North-East Wales Investment Zone (IZ) is designed to unlock opportunities for business and address barriers to private sector growth, creating more high-quality jobs for communities across North Wales. The Corporate Joint Committee is developing a business case which the UK and Welsh Governments will appraise. This will set out IZ proposals to create the conditions for increased investment and innovation.
The IZ will complement other regional economic regeneration initiatives including the North Wales Growth Deal and the Anglesey Freeport.