Bidding process in England opens to establish at least
seven new Freeports. The first are expected in 2021, as part of at
least 10 across the whole of the UK.
- the new hubs of business and enterprise will create thousands
of jobs, regenerating communities and turbocharging Britain’s
post-Brexit growth
- those granted Freeport status will benefit from generous tax
reliefs, simplified customs procedures and wider government
support, boosting the local economy in the industrial heartlands
The bidding process to establish new, innovative Freeports that
will boost the economy, create thousands of jobs and turbo-charge
post-Brexit trade opened today.
Seizing on the opportunities presented by leaving the EU, ports
and their communities across England can now apply for Freeport
status in a move that will transform historic sea, air and rail
ports into national hubs for trade, innovation and commerce to
regenerate communities in our industrial heartlands as the nation
levels up and builds back better.
Designed to attract major domestic and international investment,
areas given Freeport status will benefit from a wide package of
tax reliefs, simplified customs procedures, a streamlined
planning processes to boost redevelopment and government support
to promote regeneration and innovation.
The Chancellor of the Exchequer, , said:
Our new Freeports will create national hubs for trade,
innovation and commerce, levelling up communities across the
UK, creating new jobs, and turbo-charging our economic
recovery.
As we embrace our new opportunities as an independent trading
nation, we want to deliver lasting prosperity to the British
people and Freeports will be key to delivering this.
At the centre of the new Freeports policy is an ambitious new
customs model, drawing on international best practice, and
building on the UK’s existing customs arrangements. A firm can
import goods into a Freeport without paying tariffs, process them
into a final good and then either pay a tariff on goods sold into
the domestic market, or export the final goods without paying UK
tariffs.
Areas given Freeport status will also benefit from a wide package
of tax reliefs, including on purchasing land, constructing or
renovating buildings, investing in new plant and machinery assets
and on Employer National Insurance Contributions.
Streamlined planning processes and government funding will also
boost redevelopment and promote regeneration and innovation.
The first Freeports will be open for business in 2021, and sea,
air and rail ports from across England are encouraged to apply,
working in tandem with their local leaders, businesses and others
in their communities.
Secretary of State for Housing, Communities and Local Government,
said:
Our Freeports will be international centres for trade and
investment, powering regeneration, job creation and
entrepreneurship. I am delighted that ports, councils and their
private sector partners can now apply for Freeport status –
with all the special opportunities it will bring to their
communities and the country.
The government is working constructively and collaboratively with
the devolved administrations to establish at least one Freeport
in each nation of the UK, in addition to those allocated in
England.
Richard Ballantyne, Chief Executive, British Ports Association,
said:
The launch of the Freeports bidding process in England today
represents a huge step forward in the establishment of fair and
inclusive Freeports in the UK. We are pleased that Government
recognises and supports ports as drivers of economic
development and prosperity. Ports, and the wider maritime
industry, are eager to play their part in the solution to
national economic recovery and the regeneration of coastal
communities.
Tim Morris, Chief Executive Officer, UK Major Ports Group, said:
We welcome the launch of the Freeports Bidding Prospectus. Port
operators all across the UK are developing ambitious proposals
to respond to the Freeports opportunity. The UK Major Ports
Group and the port operators themselves look forward to working
closely with the Government to build ever stronger gateways for
the UK’s global trade, boost prosperity for coastal and inland
communities and maintain high standards.
The government is committed to levelling up all regions of the UK
by spreading opportunity through private enterprise; creating
jobs and seizing the opportunities presented by leaving the EU.
Notes
- the full Bidding Prospectus will be live on gov.uk at 11am on
Monday 16 November
- bidders will need to submit bids by Friday 5 February 2021,
and bids will be assessed by a MHCLG chaired assessment panel in
March 2021, with decisions made in Spring
- the government remains committed to ensuring its Freeport
model maintains the UK’s high standards with respect to security,
safety, workers’ rights, data protection, biosecurity and the
environment, while ensuring fair and open competition between
businesses
- freeports will adhere to the OECD Code of Conduct for Clean
Free Trade Zones, and current obligations set out in the UK’s
Money Laundering Regulations 2017 will be maintained
