Published: 2nd Aug 2019

The government is to offer airports and ports a chance to become ‘freeports’ as part of its Brexit preparations. The international trade secretary Liz Truss will announce the government plans today (2 August) to create up to 10 freeports, which will be free of ‘unnecessary checks and paperwork’. According to the government, these zones will reduce costs and bureaucracy, and encouraging manufacturing businesses to set up or expand. In addition, the government claimed it will also be able to take advantage of ‘post-Brexit opportunities’, such as trade with the USA and Asian markets. However, the EU Commission last month published a report which warned that free ports could be used for money laundering. The international trade secretary will make the announcement as she visits one of the UK’s major ports in the Northern Powerhouse, Teesport, alongside Tees Valley mayor, Ben Houchen. The mayor has championed freeports, and a report commissioned … (To read the full article, subscribe below)