Great Western Freeport bid â economic opportunity or unregulated risk?
By Ellie Pipe, Monday Feb 22, 2021
A cohort of business leaders have thrown their weight behind the Great Western Freeport bid, which it is claimed will create 50,000 jobs in the region.
Part of the governmentâs ambition to forge a ânew era of global trade in the UKâ post-Brexit, Avonmouthâs deepwater port has been earmarked as one of up to ten sites in the country that could potentially become âlittle or no tax zonesâ.
It would essentially mean the port would operate outside of Britainâs borders for tax purposes and is an initiative hailed by supporters as an opportunity to level up economic growth, with the potential to boost the regionâs coffers by some £3billion a year.