Government to proceed with plans to create freeports across UK

09 Oct 2020

The government has confirmed that it will create new freeports across the UK in 2021.

The Treasury has outlined the next steps for the creation of freeports, which it hopes will drive investment and create jobs after the end of the Brexit transition period.

Sea, air and rail ports in England will be invited to bid for freeport status before the end of 2020, the Treasury said. Freeports will benefit from streamlined planning processes to aid brownfield redevelopment; a package of tax reliefs to help drive jobs, growth and innovation; and simplified customs procedures and duty suspensions on goods.

The government is working with the devolved administrations to seek to establish at least one freeport in each nation of the UK.

'Our new freeports will create national hubs for trade, innovation and commerce, regenerating communities across the UK and supporting jobs,' said Chancellor Rishi Sunak.

'They will attract investment from around the world as we embrace new opportunities following our departure from the EU and will be key drivers for economic recovery as we build back better post-coronavirus.'

The first freeports are set to be open by the end of 2021.

Register for our newsletter

Once a month we'll send you an email packed full of essential business news and handy tax tips to help save you money.

Register

Weston-super-Mare

34 Boulevard
Weston-super-Mare
Somerset
BS23 1NF

01934 415022


Home | Contact us | Accessibility | Disclaimer & Privacy Policy | Help | Site map |

© 2024 Four Fifty Partnership. All rights reserved.

We use cookies on this website, you can find more information about cookies here.


Registered to carry on audit work in the UK by the Institute of Chartered Accountants in England and Wales. Details about our audit registration can be found at auditregister.org.uk under the reference C001092613.

"four fifty partnership" is a trading name of Four Fifty Partnership Limited. Registered in England. Company Number 5032008. Registered Office 34 Boulevard, Weston super Mare, Somerset BS23 1NF.

Directors: Richard Acreman BSc CTA, Joy Boswell FCCA FCA, Peter Ison BA FCA and Nick Gravell FCCA FCA.

Professional Indemnity Insurers: Nexus Underwriting Limited, 52-56 Leadenhall Street, London, EC3A 2EB (Policy Number: 44402654). The territorial coverage is worldwide excluding professional business carried out from an office in the United States of America or Canada and excludes any action for a claim brought in any court in the United States of America or Canada.