In March, Chancellor Rishi Sunak announced eight locations in England had been granted freeport status but critics say the government’s policy has not been properly formulated and will not contribute significant revenues to help pay off the huge national debt caused by the coronavirus pandemic. Liverpool, Felixstowe, Humber, Plymouth, Solent, Teesside, Thames, and East Midlands Airport were awarded freeport status amid hopes they would be up and running by the end of 2021 pending “completion of their business case assessments”. Prime Minister @BorisJohnson and Chancellor of the Exchequer @RishiSunak were in Teesside this morning where a new Freeport will create thousands of jobs. pic.twitter.com/TVxlUSfbwD — UK Prime Minister (@10DowningStreet) March 4, 2021 But Tony Restall, who helped create Dubai’s first free trade zone in the port of Jebel Ali in the 1980s, told Sputnik the government was floundering and had no real idea of how freeports work to generate money for the Treasury. He said the “tail was wagging the dog” and instead of asking the bidders to explain their business case, the government should have set out the ground rules for freeports and then asked for bids. But Mr Restall said: “Freeports should generate revenue for the country. In Dubai… Read full this story
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