Local MP, Caroline Dinenage, has welcomed further details set out last week about new, innovative Freeports.
Freeports are zones which have reduced the costs, paperwork and checks when trading. Their reduced regulations and bureaucracy invites businesses and investment in the area - meaning they become hubs for enterprise. A package of tax reliefs will help drive the local economy and sustainable jobs.
Caroline spoke to both Portsmouth International Port, and the Secretary of State for International Trade, Liz Truss, last year about the rewards that being a flagship Freeport could bring to Portsmouth and the surrounding area, including Gosport. The Freeport could bring real benefits to the Gosport Constituency and key economic sites such as the Enterprise Zone at Daedalus Airfield.
The government is aiming for the first of the new sites to open in 2021 and Caroline is meeting with Portsmouth Port officials again this month, to discuss their potential bid.
“Having spoken to officials at Portsmouth Port, I am very enthusiastic for them to become a flagship Freeport and attract business, growth and jobs to our local area.
“Leaving the European Union opens up new global trade opportunities which Freeports will be central to, creating hubs for world-wide trade and innovation.
“The jobs opportunities and growth that it brings is more important than ever as our local economy is feeling the repercussions of the pandemic.”
The Chancellor of the Exchequer, Rishi Sunak, said:
“Our new Freeports will create national hubs for trade, innovation and commerce, regenerating communities across the UK and supporting jobs.
“They will attract investment from around the world as we embrace new opportunities following our departure from the EU and will be a key driver for economic recovery as we build back better post coronavirus.”