Liverpool to bid for freeport status in bid to boost post-Brexit trade

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Liverpool to bid for freeport status in bid to boost post-Brexit trade

Liverpool is set to bid to become a freeport in a bid to drive economic growth after Brexit.

Liverpool Docks on the horizon in the sunshine haze. Peel Ports, which operates the port, is hoping the city will be chosen as one of 10 new freeports. Photo by Colin Lane

Peel Ports, which runs the port, confirmed it had submitted a bid to become one of 10 new UK freeports.

The policy, announced last year as part of the government’s bid to change how the UK trades with the world in the wake of our exit from the EU, will see special tax regimes in place for the areas chosen.

A spokeswoman at Peel Ports said freeport status would create jobs and opportunities in Liverpool and the wider region.

She said: “The Port of Liverpool provides a strategic option for a free port and we believe that a freeport and enterprise zone with Liverpool at its heart could act as a catalyst for a wide range of win-win trade scenarios post-Brexit.

“Being awarded freeport status will be a key driver of economic generation in the wider city region and will create an opportunity to stimulate regional economic growth, create jobs, increase manufacturing opportunities and create global trading hubs.

“All of which provide attractive benefits to businesses looking to import goods, helping stimulate foreign direct investment.

“Freeports allow tax concessions and other benefits to goods imported to the area until they leave the port, allowing it to operate on a separate customs regime than the rest of the UK. ” . . .

. . . continue reading the article on the Liverpool Echo website here