Eight UK Freeports Created
Eight UK Freeports Created
In the UK budget (3 March 2021), the Government announced the creation of eight free ports in England: (1) East Midlands airport, (2) Freeport East – Felixstowe and Harwich, (3) Humber – Hull, Grimsby, Immingham and Goole, (4) Liverpool City Region, (5) Plymouth and South Devon, (6) Solent – including Southampton, (7) Thames – including London Gateway and Tilbury ports and (8) Teesside.
Firms located inside the freeports can benefit from tax breaks, and reduced customs obligations and fewer tariffs. Freeports existed in the UK between 1984 and 2012, and around 80 currently exist in the EU.