The UK government has announced the creation of twelve new investment zones as part of a broader industrial strategy aimed at promoting enterprise, employment, education and innovation across the country.
These zones will be located across the UK, including eight designated areas in England and one each in Scotland, Wales and Northern Ireland.
The investment zones have been likened to "12 potential Canary Wharfs" by the Health Secretary Jeremy Hunt.
The Chancellor of the Exchequer has announced the creation of 12 new investment zones as part of the UK government's industrial strategy, aimed at supporting enterprise, employment, education, and innovation.
The new zones will be spread across the country, with eight located in specific areas of England including West Midlands, Greater Manchester, the North East, South Yorkshire, West Yorkshire, East Midlands, Teesside and Liverpool, and one each in Northern Ireland, Scotland and Wales.
The announcement was made during the chancellor's presentation of the Spring Budget to the House of Commons.
Health Secretary, Jeremy Hunt, referred to these new zones as "potential Canary Wharfs" and expressed his belief that this new initiative would spur growth in industries outside of London.
The main pillars of the government's industrial strategy include enterprise, employment, education and innovation, and the chancellor has stated that these zones will be a key part of achieving these goals.
The move has been seen as positive by some, while others have expressed scepticism about the feasibility of such a large-scale project.