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ARTICLE · 10 MAY 2021

Freeports: Asia Vs UK

There is no arguing that it will take some time for the UK, and indeed the world, to recover from the Covid-19 pandemic.

GlobalTax

There is no arguing that it will take some time for the UK, and indeed the world, to recover from the Covid-19 pandemic. Couple this with Brexit, and Rishi Sunak had quite a task on his hands to deliver a Budget to help stimulate growth in the UK economy. At the end of his statement, however, he pulled the rabbit out of his hat: freeports. Is this programme really the 'flagship government programme' promised by HM Treasury? Can it really deliver on its aims to increase the attractiveness of the UK as an international trading nation post-Brexit and boost the UK economy? 

The idea of freeports is not new. In fact, they were pledged in the Tory Party 2019 manifesto. What the Chancellor did announce in his Budget was that the programme is going ahead. He also announced the eight locations in England for them: East Midlands Airport, Felixstowe and Harwich, the Humber region, the Liverpool City region, Plymouth, Solent, Thames, and Teesside. The choice of locations is

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