Ministers should offer foreign firms tax breaks to pump cash into Red Wall areas, a Tory think-tank urges today. A report by Onward calls on the Government to make it more attractive to invest in regions struggling to compete with the cash-soaked South East and London.
A study says that while foreign investments in London tripled between 1997 and 2016, they dropped 15% in the rest of the UK over the same period.
Boosting the amount of money overseas companies plough into parts of the North and Midlands would help repay voters who backed the Conservatives at the 2019 election – and meet Boris Johnson's “levelling-up” pledges, the think-tank argues.
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