English Freeports Update
Statement by , Parliamentary
Under-Secretary of State for Levelling Up
Today I have the pleasure of announcing that Thames Freeport has
received final government approval, in a massive boost to South
Essex and the wider region. This is a pivotal landmark for the
Freeports programme and comes less than 4 months after I
announced the first group to receive approval. The speed of
progress sends a clear message: the Government is backing these
areas to grow and thrive.
Freeports form an important part of this Government’s economic
strategy and will catalyse investment through a combination of
tax reliefs, public funding, and government support. These
measures will drive growth, create jobs and, in turn, transform
opportunities for local communities: a real example of levelling
up in action.
The Thames Freeport will now receive up to £25 million in seed
funding and potentially hundreds of millions in locally retained
business rates to upgrade local infrastructure and stimulate
regeneration. This is alongside generous tax reliefs and a
simplified customs procedure, all backed by a package of trade
and innovation support for businesses located there.
Armed with these tools, the Thames Freeport will drive investment
in and around the ports of South Essex and Ford’s world-class
Dagenham Engine Plant. This will bring jobs of the future – in
sectors such as advanced manufacturing and hydrogen – to local
communities.
And this is only the beginning. Across government, we are working
closely with the English Freeports to support them to achieve
their objectives and deliver transformational benefits for their
local areas.
We also recently announced two successful Green Freeports in
Scotland and we will be announcing the outcome of the Welsh
competition shortly. Discussions continue with our stakeholders
in Northern Ireland about how we can extend the benefits
associated with the Freeport programme there.
This is an incredibly exciting time for UK Freeports and the
wider levelling up agenda as we start to see local areas bring
their plans to life with big private investments, upgrades to
local infrastructure, and bold regeneration initiatives in those
areas that need a boost, creating real impacts for local people.
