The Government is working to boost economic activity across the UK post Brexit. This is being done so that regions across the country will be able to benefit from the opportunities that arise once the UK leaves the EU. In order to assist these benefits, the Government is planning to create up to 10 freeport locations in the UK. The aim of this is to establish freeports that have different customs rules, boost the level of global trade and attract investment that will help to boost productivity. In doing so, this will help to generate employment opportunities and boost some of the most deprived communities across the UK, including greater opportunities with shipping.
The government has the following objectives for UK freeports:
1) Establish freeports as national hubs for global trade and investment across the UK 2) Promote regeneration and job creation 3) Create hotbeds for innovation
The government has researched and collected evidence from successful freeports that already exist and have developed a freeport model to fit the UK. The model that is proposed includes tariff flexibility, tax measures and customs facilitation, with a view to include targeted funding for infrastructure and plan reforms whilst incentivising innovation.
This is great news for Freight Forwarders and for Business owners that use Sea Freight, Air Freight and Container Haulage Services.
2020 has seen some significant changes already in only the first 3 months of the year with Brexit implemented and a worldwide Corona Virus to deal with which already has many businesses having to consider contingency plans.
Freight forwarding from China to the UK via Sea freight and Air Freight as always will require expert help and CCT Worldwide have over 35 years of experience in managing Logistics for clients whilst offering a Worldclass service.
There are many reasons to be positive in Logistics especially when the Government is working to boost economic activity across the UK post Brexit.
For more information and to read the freeports consultation proposed click the following link – https://www.gov.uk/government/consultations/freeports-consultation