Freeports Consultation Extended to July
The government made a 2019 manifesto commitment to consider Freeports. Now is time to have your say on the UK Government plans. These special Customs areas allow relief of import duties and provide wider other benefits for business and the community. The format and specific benefits of a UK Freeport policy is be determined hence this consultation .Responses were due by April, now extended to 13 July 2020. Take your chance to have an input into UK policy on Freeports.
Freeports Consultation
The Treasury issued the consultation paper in February 2020 with responses invited from all stakeholders initially by April but now extended to July 2020. The key aspect of the policy is to allow 10 Freeports in the UK to boost trade, attract investment and increase prosperity and increase job opportunities.
A Freeport is a zone where different Customs rules may apply. These zones in varying forms exist across the globe. The up take of Freezones ( already permitted under current EU rules) in the UK was historically low and UK legislation lapsed some years ago. There are currently no Freeports in the UK.
For more information about the wider concept and benefits that could be achieved in the future the UK Free Trade Zone association have further information here
Government propose to create Freeports that will act as hubs for international trade and to increase local regeneration , create new jobs and innovation hotbeds. UK business is encouraged to give comment on these proposals. Particular responses are required relating to
- Tariffs and Customs matters
- Tax
- Planning
- Regeneration
The link to the consultation is here. Add your opinion.
Our Comments on Freeports Consultation
Clearlight Brokerage along with our sister company Clearlight Customs are developing a response to the consultation with the UK Free Trade Zone association.
Contact Clearlight about Freeports Consultation
If you would like more information on this policy or have a contribution to make please let us know by calling us on 01283 553099 or contacting us here.
Let us know what you think about Freeports. Worthwhile ? Business benefit or white elephant (x 10) !
