News / Demands for improvement to governance and transparency at UK freeports

Prime minister Boris Johnson and chancellor Rishi Sunak visit Teesport following its winning bid

The UK cross-party Business and Trade Committee has demanded the government “urgently improve” governance and transparency at freeports and investment zones. 

Freeports and investment zones are a geographical area with preferential tax breaks and business rates for firms that operate inside them. The primary goal of a freeport is to encourage trade and economic growth. 

August 2019 saw the announcement of the creation of several new freeports across the UK that began operations in 2021. There are no ten: East Midlands Airport; ...