The coalition government has pledged to reintroduce enterprise zone-style tax breaks, deregulation, and relaxation of planning rules to 10 areas across the UK in the Budget on 23 March.

Chancellor George Osborne has said the government will offer developers and companies incentives to bring their business to deprived areas, particularly in the Midlands and parts of the North of England, to help boost economic growth. The proposals will allow local authorities to retain business rates within the new zones, which they can then reinvest in the area. The government has also pledged to bring superfast broadband to each of the areas. According to the Chancellor, the zones will be centres for new businesses and new jobs where taxes will be even lower and more restrictions on growth removed. They will be in areas with great potential, but which need that extra push from government and local communities working together.

The scheme will cost £100m over the next four years and the full details on the scope and locations will be revealed on Budget day.