AQW 51494/11-16

Ms Claire Sugden
Independent
East Londonderry

Tabled Date: 26/11/2015
Answered On Date: 14/12/2015
Priority Written: No

Question:
To ask the Minister of Enterprise, Trade and Investment for an update on the Enterprise Zone in Coleraine.

Answer:

The UK Government’s Economic Pact, published on 14 June 2013, set out three commitments in relation to Enterprise Zones, focusing on Enhanced Capital Allowances (ECAs), which permit 100% first year allowances for qualifying plant and machinery expenditure. The pilot Enterprise Zone announced in the Chancellor’s Budget statement in March 2014 will only offer ECAs as an incentive. The decision to designate a particular area offering ECAs is ultimately for HM Treasury.

HMT is currently considering a request for formal designation of the pilot Enterprise Zone and it is anticipated that designation will be progressed in the coming weeks.