Plans for post-Brexit free ports which could create “thousands of jobs” as part of the 海角视频’s future trade arrangements are set to be announced by the International Trade Secretary.
On a visit to Teesside, Liz Truss is set to say that the Government plans to create “the world’s most advanced free port model” as soon as possible.
Free ports are areas inside the 海角视频 geographically, but legally outside of the 海角视频 customs territory.
Once the 海角视频 leaves the EU, seaports and airports across the 海角视频 will be invited to bid to become one of up to 10 free ports with the aspiration of increasing trade with new markets across the world.
Ms Truss said free ports would use onshore enterprise and manufacturing as the “gateway to our future prosperity, creating thousands of jobs”.
“We will have a truly independent trade policy after we leave the EU on October 31,” she added.
However, Labour said free ports represent “a race to the bottom that will have money launderers and tax dodgers rubbing their hands with glee”.
Shadow international trade secretary Barry Gardiner said: “Freeports and free enterprise zones risk companies shutting up shop in one part of the country in order to exploit tax breaks elsewhere, and, worst of all, lower employment rights.
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“The British people did not vote for this new administration and they certainly did not vote to see their jobs and livelihoods threatened in favour of gifting further tax breaks to big companies and their bosses.”
In his first speech as Prime Minister on the steps of 10 Downing Street, Boris Johnson said free ports would provide thousands of jobs for people in “left-behind areas”.
During the Tory leadership campaign, Mr Johnson pledged to create “about six” free ports.
The new Brexit-supporting Chief Secretary to the Treasury Rishi Sunak wrote a paper in November 2016 on free ports for the Centre for Policy Studies think tank - which was co-founded by Margaret Thatcher.
He said: “We are exploring free ports as an innovative way to drive growth and support thousands of high-skilled jobs across the 海角视频.
“We will focus on those areas that could benefit the most, as we look to boost investment and opportunity for communities across the country.”
The Department for International Trade will also launch a Free Ports Advisory Panel which will include ministers from the Department for International Trade and the Treasury.
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Panellists include David Cameron’s former special adviser Daniel Korski, who last year wrote in an article for City AM that a no-deal Brexit would be “disastrous” for technology firms.
Also on the panel is small business champion Emma Jones, who coordinated an open letter alongside 68 other business owners which warned that no deal would be a “disaster” for small companies.
The expected announcement has been welcomed by the Port of Tyne, which is expected to be one of the potential free ports announced by Ms Truss, though chief executive Matt Beeton called for the status to be extended beyond the port to key North East employers.
He said: “The Government’s Free Ports Advisory Panel needs to consider the complex needs of manufacturers like Komatsu, Nissan and others and create solutions that safeguard jobs and stimulates further foreign investment.
“We strongly believe a Free Port covering the region’s advanced manufacturing cluster and key transport nodes like the Port of Tyne has the potential to supercharge regional growth by unlocking post-Brexit opportunities in new and existing supply chains.”