Levelling up funds could be merged into single pot

The new prime minister is planning to combine dozens of “levelling up” funds into a single pot. Liz Truss is examining the measure as part of plans to create up to 40 “investment zones” across the UK. It is hoped that the zones will woo companies by offering low business taxes and light-touch environmental and workplace regulations. It is also feared that affordable housing provision could be ditched in the new zones, which will be modelled on freeports. So far, 35 local councils are believed to have expressed interest in the zones, which will be announced by the chancellor Kwasi Kwarteng in his mini-Budget on Friday. There are currently 139 different funding pots that could finance infrastructure and projects in so-called left-behind areas. Michael Gove attempted to merge them together as levelling up secretary, but met resistance from the Treasury. The FT (£) The Guardian