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No new freeports after all

[ October 28, 2024   //   Chris Lewis ]

An earlier announcement that the Chancellor would announce five new freeports in Wednesday’s Budget are incorrect, the Government has said.

The chancellor, Rachel Reeves, would instead be confirming five new ‘customs areas’ within existing freeports, not new freeports.

The chancellor will also confirm the next funding stage for some existing freeport sites.

The government says that there had been confusion between freeport s and customs areas within them.

Last week, Prime Minister Sir Keir Starmer was reported as saying that the existing freeports introduced by the last government were “working well but “they could work better” with more involvement from local businesses and politicians.

Tags: Government