- Saturday, April 20, 2024
By: Pramod Thomas
The launch of Freeports Consultation was the latest engagement of the new UK finance minister Rishi Sunak when he was Chief Secretary to the Treasury.
On February 10, he launched the Freeports consultation.
“Excited to launch a Freeports consultation. As a proud, independent, outward-looking country we champion global free trade. Freeports will help to attract new businesses, create jobs and spread opportunity,” he said on twitter with a photo.
Excited to launch a Freeports consultation. As a proud, independent, outward-looking country we champion global free trade ???Freeports will help to attract new businesses, create jobs and spread opportunity. #levellingup #freeports @abports21 pic.twitter.com/QxSo0A83Bl
— Rishi Sunak (@RishiSunak) February 10, 2020
The government plan is to create up to 10 Freeports in locations across the UK.
But there were critics to this initiative on social media.
“The UK already had free ports when in the EU before your party closed them all in 2012,” one tweet read.
The consultation closes on April 20, 2020, according to official data. Means, this might find a place on the agenda of the new finance minister.
Through Freeports Consultation, the government works to boost economic activity across the UK, ensuring that towns, cities and regions across the country can begin to benefit from the opportunities of leaving the EU.
“We want all the nations of the UK to be able to share in the benefits of Freeports. As such, we intend to work with the Devolved Administrations to develop proposals that would enable the creation of Freeports in Scotland, Wales and Northern Ireland, in addition to those in England,” says an official statement.
The proposed model includes tariff flexibility, customs facilitation and tax measures.
