Eight new freeport sites are to be launched later this year in England.
The sites will be at East Midlands Airport, Liverpool, Felixstowe, Humber, Plymouth, Thames, Teesside, and Solent.
Freeports are international gateways offering a number of benefits to businesses operating on the sites, including “more generous tax reliefs, simplified customs procedures and wider government support, bringing investment, trade and jobs”, according to the Treasury.
The Chancellor confirmed in the March 2021 Budget that the eight sites are scheduled to be able to begin operations later this year, subject to agreeing governance arrangements and successfully completing business cases.
Similar deals are also in discussion with the devolved administrations in Scotland, Wales and Northern Ireland.