Investment zones and infrastructure face cuts

Investment zones may still go ahead, but face cuts along with infrastructure spending. Michael Gove said “everything will be reviewed” as the government seeks to plug a £50bn budget black hole. Speaking to Sky News, the levelling up secretary said investment zones would be reviewed to tackle environmental concerns. “We need to make sure that any change we make is one which of course helps to support economic growth and good jobs for people, but also one of the concerns raised about investment zones was the impact on the environment.” He continued: “So I will be looking with the chancellor of the exchequer, with the environment secretary and with the prime minister at the proposals that were drawn up when Liz was prime minister… and anything that might in any way undermine environmental protections is out.” Gove has also suggested that major infrastructure projects such as HS2 and other capital spending could be scaled back as part of a drive to make £50bn in savings. Speaking to Times Radio, Gove said: “Ideally you don’t want to cut that long-term capital investment because it helps contribute to economic growth and greater opportunity. But when we face the particularly economic problems that we have at the moment, I am sure that some capital spending will be cut.” The Times (£) The FT (£) The Guardian