04212021

Freeports: What are they and will they make the UK money?


Freeports: What are they and will they make the UK money? – BBC News

u003cscript type=”text/javascript”>n IDT.init(“graphicUUID”:”cf9dd1a4-5a3e-45f0-8123-153a4f2aa436″);n u003c/script>”,”type”:”idt2″,”idt2Image”:”alt”:”Freeports in numbers. [ 3,500 freeports are estimated around the world, employing 66m people ],[ 7 freeports operated in the UK between 1984 and 2012 ],[ 0 there are no freeports currently in the UK, though there is one on the Isle of Man. ], Source: Source: House of Commons Library, Image: Shipping containers and cranes”,”src”:”https://ichef.bbci.co.uk/news/1632/idt2/idt2/cf9dd1a4-5a3e-45f0-8123-153a4f2aa436/image/816″,”srcSet”:”https://ichef.bbci.co.uk/news/920/idt2/idt2/cf9dd1a4-5a3e-45f0-8123-153a4f2aa436/image/460 920w,https://ichef.bbci.co.uk/news/1280/idt2/idt2/cf9dd1a4-5a3e-45f0-8123-153a4f2aa436/image/640 1280w,https://ichef.bbci.co.uk/news/1632/idt2/idt2/cf9dd1a4-5a3e-45f0-8123-153a4f2aa436/image/816 1632w”}},”type”:”crosshead”,”text”:”Will freeports benefit from Brexit?”,{“type”:”text”,”model”:{“blocks”:[{“type”:”paragraph”,”model”:{“text”:”There are currently about 80 freeports dotted around the EU.”,”blocks”:[“type”:”fragment”,”model”:”text”:”There are currently “,”attributes”:[],”type”:”urlLink”,”model”:”text”:”about 80 freeports”,”locator”:”https://ec.europa.eu/taxation_customs/sites/taxation/files/resources/documents/customs/procedural_aspects/imports/free_zones/list_freezones.pdf”,”blocks”:[“type”:”fragment”,”model”:”text”:”about 80 freeports”,”attributes”:[]],”type”:”fragment”,”model”:”text”:” dotted around the EU.”,”attributes”:[]]}}]}},{“type”:”text”,”model”:{“blocks”:[“type”:”paragraph”,”model”:”text”:”Now that the UK has left the EU, some Brexit supporters say the UK can adopt a more generous freeport policy. For example, they say the government could give businesses more financial help.”,”blocks”:[“type”:”fragment”,”model”:”text”:”Now that the UK has left the EU, some Brexit supporters say the UK can adopt a more generous freeport policy. For example, they say the government could give businesses more financial help.”,”attributes”:[]]]}},{“type”:”text”,”model”:{“blocks”:[“type”:”paragraph”,”model”:”text”:”Jonathan Branton, a partner at law firm DWF, says the UK does have more flexibility in this area now it doesn’t have to follow the EU’s rules. “,”blocks”:[“type”:”fragment”,”model”:”text”:”Jonathan Branton, a partner at law firm DWF, says the UK does have more flexibility in this area now it doesn’t have to follow the EU’s rules. “,”attributes”:[]]]}},{“type”:”text”,”model”:{“blocks”:[“type”:”paragraph”,”model”:”text”:”He also points out tax breaks offered to freeport firms would no longer require prior sign-off from the European Commission.”,”blocks”:[“type”:”fragment”,”model”:”text”:”He also points out tax breaks offered to freeport firms would no longer require prior sign-off from the European Commission.”,”attributes”:[]]]}},{“type”:”text”,”model”:{“blocks”:[“type”:”paragraph”,”model”:”text”:”However, he adds that the Brexit trade deal – agreed by the UK and the EU – still requires subsidies to be justified, otherwise they could be challenged in UK courts. “,”blocks”:[“type”:”fragment”,”model”:”text”:”However, he adds that the Brexit trade deal – agreed by the UK and the EU – still requires subsidies to be justified, otherwise they could be challenged in UK courts. “,”attributes”:[]]]}},{“type”:”text”,”model”:{“blocks”:[“type”:”paragraph”,”model”:”text”:”In more extreme circumstances, the EU could ultimately respond to UK subsidies by introducing tariffs on some UK goods deemed to be damaging EU trade or investment.”,”blocks”:[“type”:”fragment”,”model”:”text”:”In more extreme circumstances, the EU could ultimately respond to UK subsidies by introducing tariffs on some UK goods deemed to be damaging EU trade or investment.”,”attributes”:[]]]}},{“type”:”text”,”model”:{“blocks”:[“type”:”paragraph”,”model”:”text”:”Furthermore, the UK will still be subject to World Trade Organization rules – which say you can’t introduce subsidies linked just to export performance.”,”blocks”:[“type”:”fragment”,”model”:”text”:”Furthermore, the UK will still be subject to World Trade Organization rules – which say you can’t introduce subsidies linked just to export performance.”,”attributes”:[]]]}},{“type”:”unorderedList”,”model”:{“blocks”:[{“type”:”listItem”,”model”:{“blocks”:[“type”:”urlLink”,”model”:”text”:”Scottish government unveils ‘green ports’ plans”,”locator”:”https://www.bbc.co.uk/news/uk-scotland-scotland-business-55752698″,”blocks”:[“type”:”fragment”,”model”:”text”:”Scottish government unveils ‘green ports’ plans”,”attributes”:[]]]}},{“type”:”listItem”,”model”:{“blocks”:[“type”:”urlLink”,”model”:”text”:”Brexit: Is the EU stopping the UK having free ports?”,”locator”:”https://www.bbc.co.uk/news/uk-48868234″,”blocks”:[“type”:”fragment”,”model”:”text”:”Brexit: Is the EU stopping the UK having free ports?”,”attributes”:[]]]}}]}},{“type”:”text”,”model”:{“blocks”:[{“type”:”paragraph”,”model”:{“text”:”There are also questions over Northern Ireland, whose goods trade with the EU will stay bound by the bloc’s subsidy rules under the UK’s withdrawal deal. “,”blocks”:[“type”:”fragment”,”model”:”text”:”There are also questions over Northern Ireland, whose goods trade with the EU will stay bound by the bloc’s subsidy rules under “,”attributes”:[],”type”:”urlLink”,”model”:”text”:”the UK’s withdrawal deal”,”locator”:”https://www.bbc.co.uk/news/explainers-53724381″,”blocks”:[“type”:”fragment”,”model”:”text”:”the UK’s withdrawal deal”,”attributes”:[]],”type”:”fragment”,”model”:”text”:”. “,”attributes”:[]]}}]}},{“type”:”text”,”model”:{“blocks”:[“type”:”paragraph”,”model”:”text”:”Treasury Minister Steve Barclay has admitted the freeport model used in Great Britain will need to be “adapted” for Northern Ireland. “,”blocks”:[“type”:”fragment”,”model”:”text”:”Treasury Minister Steve Barclay has admitted the freeport model used in Great Britain will need to be “adapted” for Northern Ireland. “,”attributes”:[]]]}},{“type”:”text”,”model”:{“blocks”:[“type”:”paragraph”,”model”:”text”:”Northern Ireland’s devolved government says it is working with the Treasury to find out how much of the model it will be able to follow. “,”blocks”:[“type”:”fragment”,”model”:”text”:”Northern Ireland’s devolved government says it is working with the Treasury to find out how much of the model it will be able to follow. “,”attributes”:[]]]}},”type”:”image”,”model”:”emphasiseImage”:false,”caption”:”Backers of the Teesside freeport bid say it could create thousands of jobs in the area”,”copyright”:”Getty Images”,”media”:”__typename”:”ComponentsImage”,”originalSrc”:”https://c.files.bbci.co.uk/A4ED/production/_117012224_teessidegetty.jpg”,”iChefRecipe”:”https://ichef.bbci.co.uk/news/$recipe/cpsprodpb/A4ED/production/_117012224_teessidegetty.jpg”,”height”:549,”width”:976,”alt”:”Machine being unloaded on the banks of the River Tees”,”loading”:”lazy”,”type”:”crosshead”,”text”:”Are freeports a good idea?”,{“type”:”text”,”model”:{“blocks”:[“type”:”paragraph”,”model”:”text”:”Supporters say freeports can help increase manufacturing and direct jobs and investment towards areas that would otherwise struggle to attract them. “,”blocks”:[“type”:”fragment”,”model”:”text”:”Supporters say freeports can help increase manufacturing and direct jobs and investment towards areas that would otherwise struggle to attract them. “,”attributes”:[]]]}},{“type”:”text”,”model”:{“blocks”:[“type”:”paragraph”,”model”:”text”:”But opponents say they don’t boost employment overall, and diverting economic activity comes at a cost to the taxpayer.”,”blocks”:[“type”:”fragment”,”model”:”text”:”But opponents say they don’t boost employment overall, and diverting economic activity comes at a cost to the taxpayer.”,”attributes”:[]]]}},{“type”:”text”,”model”:{“blocks”:[“type”:”paragraph”,”model”:”text”:”The Labour-led Welsh government says it has reservations about freeports, although it has not ruled out introducing them in Wales. “,”blocks”:[“type”:”fragment”,”model”:”text”:”The Labour-led Welsh government says it has reservations about freeports, although it has not ruled out introducing them in Wales. “,”attributes”:[]]]}},{“type”:”text”,”model”:{“blocks”:[{“type”:”paragraph”,”model”:{“text”:”The SNP Scottish government – which has previously been critical of freeports – now plans to introduce its own scheme for Scotland, dubbed “green ports”. “,”blocks”:[“type”:”fragment”,”model”:”text”:”The SNP Scottish government – which has previously been critical of freeports – now plans to introduce its own “,”attributes”:[],”type”:”urlLink”,”model”:”text”:”scheme for Scotland”,”locator”:”https://www.gov.scot/news/green-ports-to-aid-economic-recovery/”,”blocks”:[“type”:”fragment”,”model”:”text”:”scheme for Scotland”,”attributes”:[]],”type”:”fragment”,”model”:”text”:”, dubbed “green ports”. “,”attributes”:[]]}}]}},{“type”:”text”,”model”:{“blocks”:[{“type”:”paragraph”,”model”:{“text”:”Exact details have not been set out, but bidders will be asked to promote “sustainable” growth, and pay the voluntary real living wage. “,”blocks”:[“type”:”fragment”,”model”:”text”:”Exact details have not been set out, but bidders will be asked to promote “sustainable” growth, and pay the voluntary “,”attributes”:[],”type”:”urlLink”,”model”:”text”:”real living wage”,”locator”:”https://www.bbc.co.uk/news/business-54867444″,”blocks”:[“type”:”fragment”,”model”:”text”:”real living wage”,”attributes”:[]],”type”:”fragment”,”model”:”text”:”. “,”attributes”:[]]}}]}}],”seeAlsos”:[“contentType”:”STY”,”headlines”:”shortHeadline”:”Post-Brexit free ports plan unveiled”,”headline”:”Post-Brexit plans unveiled for 10 free ports”,”url”:”/news/49198825″,”timestamp”:1564727309000,”type”:”STY”,”timestampRelative”:”2 August 2019″,”contentType”:”STY”,”headlines”:”shortHeadline”:”Brexit: Is the EU stopping the UK 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