Rachel Reeves Will Not Announce New Freeports in Budget Despite Earlier Claims

Chancellor Rachel Reeves will not announce any new freeports in her Budget, despite an earlier government press release confirming plans for five more tax-free sites. In what is understood to be a U-turn on freeport construction plans, the government is now expected to confirm funding for the “next steps” for five of the existing freeport locations. Current freeports are located in 12 locations—eight in England and two each in Scotland and Wales. These sites benefit from a generous package of incentives, including generous tax reliefs and wide-ranging support from the government to help businesses trade, invest, and innovate. Freeports are usually based at ports or airports. Existing UK freeports are located around ports in Inverness, the Forth, Teesside, the Humber, Liverpool, Anglesey, Milford Haven, Plymouth, the Solent, the Thames, and Felixstowe and Harwich....