Freeport status for Humber

Great news for the area:

"Freeport status for Humber and millions of pounds of investment to bring thousands of jobs to region."

https://www.grimsbytelegraph.co.uk/news/grimsby-news/freeport-status-humber-75m-investment-5068000

I think this is excellent news and should create jobs . Hopefully it will give the area a much needed boost.

Big announcement, but likely with small effects. I'd be surprised if many businesses moved to the region because the benefits don't seem to be particularly large. And, of course, it could be a beggar-thy-neighbour situation as well which isn't exactly ideal as you don't really want to be taking jobs from other regions. New jobs would be better.

The EU is pushing against Freeports (they have had them over there for years) because, in general, they become tax evasion and money laundering ports run by organised crime.

It will be interesting to see what does come of this because I'm not convinced it is a well thought out policy.

Or, perhaps, it is a very specifically thought out policy. The legislation will allow the Freeport zones to stretch as far as 25 miles and also to link up with 'special tax areas'. I'm sure it is complete coincidence that it is 25 miles between the London gateway and the City of London. Given that the UK financial sector isn't going to get the degree of financial equivalence with the EU that it wants (it turns out that the EU doesn't like the fact that we keep breaking the withdrawal agreement and that would be a good way to punish us), perhaps it's an early step to get the City set up as a tax haven for Europe's wealthy?

Note that this isn't a good thing as the living standards of the plebs in tax havens who aren't involved in the money games tend to be pretty shite.

Quoted from Maringer

Big announcement, but likely with small effects. I'd be surprised if many businesses moved to the region because the benefits don't seem to be particularly large. And, of course, it could be a beggar-thy-neighbour situation as well which isn't exactly ideal as you don't really want to be taking jobs from other regions. New jobs would be better.

The EU is pushing against Freeports (they have had them over there for years) because, in general, they become tax evasion and money laundering ports run by organised crime.

It will be interesting to see what does come of this because I'm not convinced it is a well thought out policy.

Or, perhaps, it is a very specifically thought out policy. The legislation will allow the Freeport zones to stretch as far as 25 miles and also to link up with 'special tax areas'. I'm sure it is complete coincidence that it is 25 miles between the London gateway and the City of London. Given that the UK financial sector isn't going to get the degree of financial equivalence with the EU that it wants (it turns out that the EU doesn't like the fact that we keep breaking the withdrawal agreement and that would be a good way to punish us), perhaps it's an early step to get the City set up as a tax haven for Europe's wealthy?

Note that this isn't a good thing as the living standards of the plebs in tax havens who aren't involved in the money games tend to be pretty shite.

I wondered how long the voice of doom would be😫

Quoted from Humbercod

I wondered how long the voice of doom would be😫

I didn't expect this thread to get much response because whatever this government does it will be wrong.

The anti Boris brigade just keep quiet even when there's some positive news for this area, sad but true.

Quoted from promotion plaice

I didn't expect this thread to get much response because whatever this government does it will be wrong.

The anti Boris brigade just keep quiet even when there's some positive news for this area, sad but true.

Is it positive? Freeports usually spring up in developing nations, where cheap labour can be exploited. Most developed nations think they are a bad idea, but the Tories love this sort of free enterprise. A few people will make a killing and loads of p1ss poor, lowly paid jobs will be created. These sorts of places wouldn't be tolerated when we were part of the EU, but the Tories will erode workers rights now we have left and places like this will be held up as the way forward for poor areas. Rich people will get richer, that is for sure

There you go, one of the anti Boris brigade has broken his silence on the matter. Sorry I couldn't be more positive for you.

Quoted from Humbercod

I wondered how long the voice of doom would be😫

Feel free to add some worthwhile comment about my post. Do you think it's a coincidence that the Freeport areas are apparently going to be able to span a 25 mile area? Is it a coincidence that the City of London and the London Gateway port (and all the industry inbetween) are within a 25 mile radius? Go on, add something useful. I dare you.

As stated, these Freeport ideas are usually reserved for developing countries (I mean to be fair, we’ve seemingly gone backwards so perhaps it’s apt)...

Most of the money will be made by big corporations. The profits, like those of ABP, will end up elsewhere, and often re-patriated to overseas shareholders. It will do naff all to create prosperity in northern Lincs.

There’ll be 8 of them so there won’t be a unique advantage to the Humber. All the major UK ports will have them so it will be much the same situation.