<-- Back to proposed bills
Freeports Consultation Response
07 October 2020
Type
Written Ministerial Statement
Department
Treasury
At a Glance
Issue Summary
The Government responded to a public consultation on Freeports, outlining plans to create national hubs for trade, innovation, and commerce across the UK.
Action Requested
The government will proceed with creating Freeports using an ambitious new customs model and tax incentives. The selection process will be fair and transparent, with measures to accelerate development and encourage innovation. At least one Freeport in each nation of the UK is planned.
Key Facts
- Government responded to a public consultation on Freeports on 7 October.
- A Freeport allows businesses to import goods without paying tariffs initially.
- New customs model and tax incentives will be introduced for Freeports.
- Measures are being put in place to speed up planning processes around Freeports.
- At least one Freeport per nation of the UK is planned.
▸
Assessment & feedback
Summary accuracy