5a Battersea: role of UK gvmt

Question 1

5 main roles of UK government

Answer 1

Development plans
Investment opportunities
Tax incentives
International marketing
Infrastructure investment

Question 2

Tax incentives: enterprise zone status

Answer 2

Up to 100% business rate relief
Encourages businesses to relocate (FDI) footloose
Increased profitability and lower costs
Employment opportunities and spending in local area
Positive feedback mechanism
But short term: tax relief only up to 5 years

Question 3

Tax incentives: capital allowances

Answer 3

Business in the EZ can claim enhanced capital allowance on qualifying investment e.g. machinery. This allows business to offset the cost of investments a giants taxable profits. Thus reducing their tax bill

Question 4

Tax incentives: simplified planning

Answer 4

Planning rules in EZ are streamlined, so it is easier for businesses to obtain planning permission for new developments

Question 5

Tax incentives: growth deals

Answer 5

Growth deals with local authorities and gvmt include gvmt funding for infrastructure projects. Makes area more attractive to business and investors while improving QoL for local residents

Question 6

The three international marketing campaigns

Answer 6

Property fairs and events, international delegations

Question 7

Property fairs and events

Answer 7

Showcasing the development international at events e.g. MIPIM: the world leading property market event held in Cannes
At these event the gvmt highlight investment potential, development plans, tax incentives and other benefits for investors

Question 8

International delegations

Answer 8

in 2016 BJ invited China to promote opportunities in the area and meet with potential investors
FDI

Question 9

International marketing campaigns

Answer 9

E.g. advertisement in foreign newspapers and online to attract investors