§ Albert OwenTo ask the Chancellor of the Exchequer what plans the Chancellor has to introduce Enterprise Zones in deprived areas of England and Wales. [79520]
§ Mr. Healey[holding answer 5 November 2002]: The Government have designated 2000 Enterprise Areas across the UK, comprising the most deprived wards in the country. In England these are the most deprived 15 per cent. of wards, and in Wales the most deprived 42 per cent. The Enterprise Areas already qualify for stamp duty relief on all transactions up to £150,000, and the Government will remove stamp duty for all nonresidential transactions subject to State Aids approval. Businesses in Enterprise Areas are also eligible for other forms of assistance such as the Community Investment Tax Credit and the Phoenix Fund, and at the Pre-Budget Report the Government will publish details of further plans to boost awareness and take-up of these measures.