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The government has stated that it wants to boost the economy post Brexit and believes that one way to achieve this is to establish 10 freeports across the country, which have different customs rules than the rest of the country, that are innovative hubs, boost global trade, attract inward investment and increase productivity.
In doing so, the government wants freeports to generate employment opportunities to the benefit of some of our most deprived communities around the UK.
The government has the following objectives for UK freeports:
The government has drawn on evidence from freeports around the world to develop a UK freeport model. The proposed model includes tariff flexibility, customs facilitations and tax measures. We are also considering planning reforms, additional targeted funding for infrastructure improvements and measures to incentivise innovation.
To support this work, government is running a formal consultation to understand industry’s thoughts on the UK’s plans for freeports, and feed these into the policy development process.
Government is inviting stakeholders to provide responses to this paper to share their views on how they can ensure that it make a success of this policy.
Responses can be made online through the Consultation Portal. Responses should be submitted by 20 April 2020. Please ensure you specify who you are responding on behalf of. Alternatively, you can post responses to: Freeports Team, Area D, Floor 5, Department for International Trade, 3 Whitehall Place, London, SW1A 2HP.
In advance of the consultation deadline, NEPIC will hold a Freeports briefing session for members. Further information coming soon.